8% convertible promissory note sold to Asher Enterprises in offering
By Devika Patel
Knoxville, Tenn., Oct. 7 - Independence Energy Corp. sold a $32,500 8% convertible promissory note to Asher Enterprises, Inc. on Sept. 23, according to an 8-K filed Monday with the Securities and Exchange Commission.
The note is convertible into common stock at a price equal to 58% of the market price. The note may be prepaid at a minimum price of 115. It matures on June 19, 2014.
The oil and gas company is based in Seal Beach, Calif.
| Issuer: | Independence Energy Corp.
|
| Issue: | Convertible promissory note
|
| Amount: | $32,500
|
| Maturity: | June 19, 2014
|
| Coupon: | 8%
|
| Conversion price: | 58% of the market price
|
| Call: | At a minimum of 115
|
| Warrants: | No
|
| Investor: | Asher Enterprises, Inc.
|
| Announcement date: | Oct. 7
|
| Settlement date: | Sept. 23
|
| Stock symbol: | OTCBB: IDNG
|
| Stock price: | $0.01 at close Oct. 6
|
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