12% convertible is due Sept. 30, 2012, may be exchanged for preferreds
By Devika Patel
Knoxville, Tenn., April 17 - Next 1 Interactive, Inc. sold a $250,000 12% secured convertible promissory note on March 28, according to an 8-K filed Monday with the Securities and Exchange Commission.
The note is due Sept. 30, 2012. It may be exchanged for series B preferred shares or converted into common stock at $0.012 per share.
Weston, Fla.-based Next 1 Interactive is an interactive media company with a focus on video and media advertising delivered over internet and television platforms.
| Issuer: | Next 1 Interactive, Inc.
|
| Issue: | Secured convertible promissory note
|
| Amount: | $250,000
|
| Maturity: | Sept. 30, 2012
|
| Coupon: | 12%
|
| Conversion price: | $0.012
|
| Warrants: | No
|
| Settlement date: | March 28
|
| Stock symbol: | OTCBB: NXOI
|
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