Company sells three-month unsecured promissory note in offering
By Devika Patel
Knoxville, Tenn., July 9 - Voice Assist, Inc. sold a $121,000 unsecured convertible promissory note on July 8, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 10% note is due Oct. 1, 2013 and may be converted into common shares at $0.08 per share, which is identical to the July 5 closing share price.
The Lake Forest, Calif., company offers cloud-based speech recognition technology designed to voice enable mobile applications.
| Issuer: | Voice Assist, Inc.
|
| Issue: | Unsecured convertible promissory note
|
| Amount: | $121,000
|
| Maturity: | Oct. 1, 2013
|
| Coupon: | 10%
|
| Conversion price: | $0.08
|
| Warrants: | No
|
| Settlement date: | July 8
|
| Stock symbol: | OTCBB: VSST
|
| Stock price: | $0.08 at close July 5
|
| Market capitalization: | $3.57 million
|
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