In April company sold another 8% six-month convertible for $5,000
By Susanna Moon
Chicago, May 16 – KokiCare, Inc. plans to issue a $15,000 8% convertible promissory note due Nov. 8, 2016, according to an 8-K filing with the Securities and Exchange Commission. The company raised $5,000 through another 8% six-month convertible promissory note on April 5.
The new note 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 before conversion.
The note may be accelerated by the holder if there is a default and the coupon will rise to 24%, retroactive to the issue date.
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.
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| Issue: | Convertible promissory note
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| Amount: | $15,000
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| Maturity: | Nov. 8, 2016
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| Coupon: | 8%
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| Conversion price: | 60% of the average of the lowest three trading prices of the stock during the 10 trading days before conversion
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| Warrants: | No
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| Pricing date: | May 12
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| Stock symbol: | OTC: KKIC
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