Bioneutral Group takes in $42,500 through convertible notes offering

8% convertible due Feb. 6, 2014 sold to Asher Enterprises in deal

By Devika Patel

Knoxville, Tenn., May 21 - Bioneutral Group, Inc. sold a $42,500 8% convertible promissory note to Asher Enterprises, Inc. on May 13, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

The note matures on Feb. 6, 2014 and is convertible into common stock at a 49% discount to the market price.

The life science specialty technology company is based in Morristown, N.J.

Issuer:	Bioneutral Group, Inc.
Issue:	Convertible promissory note
Amount:	$42,500
Maturity:	Feb. 6, 2014
Coupon:	8%
Conversion price:	49% discount to the market price
Warrants:	No
Investor:	Asher Enterprises, Inc.
Settlement date:	May 13
Stock symbol:	OTCBB: BONU
Stock price:	$0.03 at close May 10
Market capitalization:	$2.36 million

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