NewCardio revises the terms of $3.9 million 12% revolving debentures

Maturity date was amended to payment on demand from Sept. 30, 2011

By Devika Patel

Knoxville, Tenn., Oct. 12 - NewCardio, Inc. amended its $3.9 million of 12% secured revolving debentures on Oct. 5, according to an 8-K filed Wednesday with the Securities and Exchange Commission. The securities were issued in private placements that settled in July 2009 and July 2010.

Under the amendment, the debentures maturity was extended to payment on demand from Sept. 30, 2011.

Any demand for payment must be in writing and given at least five business days prior to the payment date.

Santa Clara, Calif.-based NewCardio is a cardiac diagnostic company focused on the research, development and commercialization of products and services for the non-invasive diagnosis and monitoring of cardiovascular disease.

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