Company offers 12% convertible promissory notes due Dec. 30, 2014
By Devika Patel
Knoxville, Tenn., Jan. 3 - Invent Ventures, Inc. sold $30,000 of convertible promissory notes on Dec. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.
Each 12% note is convertible into common shares at the lower of the company's net asset value per share or $0.27 per share. The notes mature on Dec. 30, 2014.
Invent Ventures is a Las Vegas-based business development company and venture capital firm with a focus on technology companies.
| Issuer: | Invent Ventures, Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $30,000
|
| Maturity: | Dec. 30, 2014
|
| Coupon: | 12%
|
| Conversion price: | The lower of the company's net asset value per share or $0.27 per share
|
| Warrants: | No
|
| Settlement date: | Dec. 30
|
| Stock symbol: | OTCBB: IDEA
|
| Stock price: | $0.16 at close Dec. 27
|
| Market capitalization: | $5.72 million
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