HealthWarehouse.com lifts promissory note to $1 million from $750,000

Notes held by Melrose now to mature two months later on Dec. 31, 2015

By Devika Patel

Knoxville, Tenn., Nov. 12 – HealthWarehouse.com, Inc. increased a promissory note to $1 million from $750,000 on Nov. 11, according to an 8-K filed Thursday with the Securities and Exchange Commission. The notes were sold to Melrose Capital Advisors, LLC on March 28, 2013.

The notes maturity was also extended to Dec. 31, 2015 from Nov. 1, 2015.

In consideration for extending the due date, Melrose Capital also received a five-year warrant for 250,000 common shares. The warrant is exercisable at $0.12 per share. The company also agreed to decrease the strike price of 375,000 previously issued warrants held by Melrose Capital to $0.12 from $0.35.

HealthWarehouse.com is a retail mail-order pharmacy based in Florence, Ky.

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