New Issue: Advance Display secures $6.89 million from sale of convertible promissory notes

By Devika Patel

Knoxville, Tenn., Nov. 13 - Advance Display Technologies, Inc. established a $6.89 million revolving line of credit agreement evidenced by promissory notes on Nov. 6, according to an 8-K filed Thursday with the Securities and Exchange Commission.

DeGeorge Holdings Three LLC is the investor.

The 10% notes may be converted into series G preferred shares at $110.00 per share and are due Nov. 6, 2009.

Based in Centennial, Colo., Advance Display manufactures fiber optic display screen systems.

Issuer:	Advance Display Technologies, Inc.
Issue:	Convertible promissory notes
Amount:	$6,894,362
Maturity:	Nov. 6, 2009
Coupon:	10%
Price:	Par
Yield:	10%
Conversion price:	$110.00
Warrants:	No
Investor:	DeGeorge Holdings Three LLC
Settlement date:	Nov. 6
Stock symbol:	OTCBB: ADTI
Stock price:	$0.15 at close Nov. 6

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