VeriTeQ sells $90,750 12% convertible with original discount of $8,250

Company sells convertible promissory note due Oct. 10, 2015

By Devika Patel

Knoxville, Tenn., Oct. 17 – VeriTeQ Corp. settled a private placement of a $90,750 12% convertible promissory note with WHC Capital LLC on Oct. 10, according to an 8-K filed Friday with the Securities and Exchange Commission. The note has an original issue discount of $8,250.

The note matures on Oct. 10, 2015 and is convertible into common stock at a 40% discount to the average of the three lowest daily closing prices of the stock in the 10 trading days preceding conversion.

The Delray Beach, Fla., company develops mobile games.

Issuer:	VeriTeQ Corp.
Issue:	Convertible promissory note
Amount:	$90,750
Maturity:	Oct. 10, 2015
Price:	$8,250 original issue discount
Coupon:	12%
Conversion price:	40% discount to the average of the three lowest daily closing prices in the 10 trading days preceding conversion
Warrants:	No
Investor:	WHC Capital LLC
Settlement date:	Oct. 10
Stock symbol:	OTCBB: VTEQ
Market capitalization:	$116,230

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