Note due Oct. 2, 2016 is convertible into stock at a variable price
By Devika Patel
Knoxville, Tenn., April 12 – KokiCare, Inc. sold a $5,000 convertible promissory note on April 5, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 8% note is due Oct. 2, 2016. It may be converted into common shares at 60% of the average of the lowest three trading prices of the stock during the 10 trading days preceding conversion.
The private Stevenson Ranch, Calif., company plans to develop and sell health care enterprise software to hospitals, medical centers and health care facilities.
| Issuer: | KokiCare, Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $5,000
|
| Maturity: | Oct. 2, 2016
|
| Coupon: | 8%
|
| Conversion price: | 60% of the average of the lowest three trading prices of the stock during the 10 trading days preceding conversion
|
| Warrants: | No
|
| Settlement date: | April 5
|
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