Note, due on demand, was bought by Gulfstream 1998 Irrevocable Trust
By Devika Patel
Knoxville, Tenn., Aug. 17 – Alumifuel Power Corp. sold a $33,000 convertible promissory note to Gulfstream 1998 Irrevocable Trust on Aug. 10, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 8% note is due on demand. It converts to common stock at the market price on the date of conversion.
The Englewood, Colo., alternative energy company generates hydrogen gas and superheated steam through the chemical reaction of aluminum, water and proprietary additives.
| Issuer: | Alumifuel Power Corp.
|
| Issue: | Convertible promissory note
|
| Amount: | $33,000
|
| Maturity: | On demand
|
| Coupon: | 8%
|
| Conversion price: | Market price on the date of conversion
|
| Warrants: | No
|
| Investor: | Gulfstream 1998 Irrevocable Trust
|
| Settlement date: | Aug. 10
|
| Stock symbol: | OTCBB: AFPW
|
| Market capitalization: | $668,540
|
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