Vuance amends $2.5 million convertible, establishes payment schedule

By Devika Patel

Knoxville, Tenn., Aug. 20 - Vuance Ltd. amended a $2.5 million convertible bond on Aug. 12, according to an 8-K filed Thursday with the Securities and Exchange Commission.

The company and the bondholder agreed to increase the interest and release the company from certain payments. The company will make monthly payments against the total amount due over an eight-year period.

The company previously owed $125,000 under the bond.

The Rockville, Md., company develops and markets end-to-end security services in a range of applications for improved credentialing, accountability, electronic access control, and tracking of assets and personnel.

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