Dynamic served with default notice for failing to pay interest on 12% convertible debentures

By Devika Patel

Knoxville, Tenn., July 16 - Dynamic Leisure Corp. reported in an 8-K filed Wednesday with the Securities and Exchange Commission that it received a demand and notice of default from Trafalgar Capital Specialized Investment Fund FIS, holder of the company's $1.2 million of 12% secured convertible debentures.

The debentures were issued in January.

The notice, dated July 10, faults the company for failing to make interest payments on the debentures.

The company said in the filing that it has been unable to make the required payments and owes Trafalgar $3,687,313.

Based in Tampa, Fla., Dynamic provides software to online travel package companies.

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