By Sheri Kasprzak
New York, Aug. 17 - Medical Media Television, Inc. settled a $1,302,000 private placement of secured convertible promissory notes with Vicis Capital Master Fund.
The 10% notes are due Aug. 10, 2007 and are convertible at $0.166 each.
For the note, Vicis made a cash payment of $790,000, surrendered two secured promissory notes issued in June 2006 and surrendered series AA convertible debentures issued in July 2005 in principal of $412,000.
Based in Tampa, Fla., Medical Media produces medical-related television programming.
| Issuer: | Medial Media Television, Inc.
|
| Issue: | Secured convertible notes
|
| Amount: | $1,302,000
|
| Maturity: | Aug. 10, 2007
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | $0.166
|
| Warrants: | No
|
| Investor: | Vicis Capital Master Fund
|
| Settlement date: | Aug. 11
|
| Stock symbol: | OTCBB: MMTV
|
| Stock price: | $0.05 at close Aug. 11
|
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