Rostock Ventures secures $15,000 in private placement of convertibles

10% one-year convertible promissory notes were sold to Robert Seeley

By Devika Patel

Knoxville, Tenn., May 4 – Rostock Ventures Corp. sold two 8% convertible promissory notes to Robert Seeley for a total of $15,000 on April 8 and April 21, according to an 8-K filing with the Securities and Exchange Commission.

The notes are due one year from settlement. The first note, for $10,000, is convertible into common stock at $0.0125 per share. The second note, for $5,000, is convertible at $0.015 per share. The conversion prices are 58.33% and 50% discounts, respectively, to the April 7 closing share price of $0.03.

The digital media marketing company is based in San Diego.

Issuer:	Rostock Ventures Corp.
Issue:	Convertible promissory notes
Amount:	$15,000
Maturity:	One year
Coupon:	10%
Conversion price:	$0.0125 (for $10,000), $0.015 (for $5,000)
Warrants:	No
Investor:	Robert Seeley
Settlement date:	April 8 (for $10,000), April 21 (for $5,000)
Stock symbol:	OTCBB: ROSV
Stock price:	$0.03 at close April 7
Market capitalization:	$6.69 million

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