Celentano Consulting buys 7% one-year unsecured promissory note
By Devika Patel
Knoxville, Tenn., March 6 - MMAX Media, Inc. sold a $210,000 convertible unsecured promissory note to Celentano Consulting Co., LLC in a private placement on Feb. 28, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 7% note is due in one year and may be converted to common stock at an initial conversion price of $0.005, which is a 75% discount to the March 5 closing share price of $0.02.
Proceeds will be used for working capital.
The Fort Lauderdale, Fla., company develops and markets products that provide merchants and consumers with mobile marketing services.
| Issuer: | MMAX Media, Inc.
|
| Issue: | Convertible unsecured promissory note
|
| Amount: | $210,000
|
| Maturity: | One year
|
| Coupon: | 7%
|
| Conversion price: | $0.005
|
| Warrants: | No
|
| Investor: | Celentano Consulting Co., LLC
|
| Announcement date: | March 6
|
| Settlement date: | Feb. 28
|
| Stock symbol: | OTCBB: MMAX
|
| Stock price: | $0.02 at close on March 5
|
© 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.
