Convertible debt due Dec. 31, 2013 issued to single investor Top Alpha
By Devika Patel
Knoxville, Tenn., July 27 - Acro Inc. settled a $62,255 6% convertible loan financing with Top Alpha Capital on June 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
The loan is due Dec. 31, 2013 and is convertible into common stock at a conversion price set at $0.0166383, which is a 16.81% discount to the June 29 closing share price of $0.02.
Based in Tel Aviv, Acro develops explosives detection technologies.
| Issuer: | Acro Inc.
|
| Issue: | Convertible loans
|
| Amount: | $62,255
|
| Maturity: | Dec. 31, 2013
|
| Coupon: | 6%
|
| Conversion price: | $0.0166383
|
| Warrants: | No
|
| Investors: | Top Alpha Capital
|
| Settlement date: | June 30
|
| Stock symbol: | OTCBB: ACRI
|
| Stock price: | $0.02 at close June 29
|
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