Cistera amends terms of convertible notes, warrants issued in 2004, 2007

By Devika Patel

Knoxville, Tenn., June 11 - Cistera Networks, Inc. reported in an 8-K filed Wednesday with the Securities and Exchange Commission that it has temporarily modified the terms of its outstanding convertible notes and warrants, which were issued in December 2004 and April 2007 private placements.

The notes' conversion price will be lowered to $0.53 per share from $1.00 per share for the notes issued in 2004 and to $0.75 per share for the notes issued in 2007.

This change will be in effect from June 9 through June 24.

In addition, the exercise price for the warrants will be reduced to $0.40 per share from $1.30 per share for warrants issued in 2004 and to $1.00 for warrants issued in 2007.

Investors also will receive three additional warrants for every ten warrants exercised during this period.

The bonus warrants may be exercised at $0.30 through June 24 and at $0.60 thereafter until the warrants expire on April 6, 2012.

Cistera, based in Dallas, develops language-based application software used to integrate voice, video and data into internet protocol infrastructure.

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