Inergetics sells $165,000 of convertibles for $150,000 via placement

Company sells original issue discount debentures to Macallan Partners

By Devika Patel

Knoxville, Tenn., Oct. 31 – Inergetics Inc. settled a private placement of $165,000 convertible debentures with Macallan Partners, LLC on Oct. 27, according to an 8-K filed Friday with the Securities and Exchange Commission. The principal includes an original issue discount of $15,000 for total proceeds of $150,000.

The note is due on Oct. 30, 2015 and is convertible into common shares at the lower of 55% of the lowest traded stock price during the 15 trading days preceding conversion or 55% of the bid price on the conversion date. The convertible may be prepaid at 130.

Based in Paramus, N.J., the company makes specialized nutritional supplements.

Issuer:	Inergetics Inc.
Issue:	Convertible debentures
Amount:	$165,000
Maturity:	Oct. 30, 2015
Price:	$15,000 discount (for proceeds of $150,000)
Conversion price:	The lower of 55% of the lowest traded stock price during the 15 trading days preceding conversion or 55% of the bid price on the conversion date
Call:	At 130
Warrants:	No
Investor:	Macallan Partners, LLC
Settlement date:	Oct. 27
Stock symbol:	OTCBB: IMII
Stock price:	$0.95 at close Oct. 24
Market capitalization:	$21.05 million

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