10% note due Jan. 21, 2013 sold to Nicholas J. Morano through offering
By Devika Patel
Knoxville, Tenn., July 27 - Medical Care Technologies Inc. sold a $29,500 convertible promissory note to Nicholas J. Morano, LLC on July 19, according to an 8-K filed Friday with the Securities and Exchange Commission.
The 10% note is due on Jan. 21, 2013 and is convertible into common shares at a 35% discount to the average of the lowest three closing bid prices of the common stock during the 90 trading day period prior to conversion. It may be prepaid.
The children's health care service provider is based in Beijing.
| Issuer: | Medical Care Technologies Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $29,500
|
| Maturity: | Jan. 21, 2013
|
| Coupon: | 10%
|
| Conversion price: | $0.0075
|
| Call: | Yes
|
| Warrants: | No
|
| Investor: | Nicholas J. Morano, LLC
|
| Settlement date: | July 19
|
| Stock symbol: | OTCBB: MDCE
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
