YOU On Demand extends due date of $3 million convertible to 2016

Convertible note was sold to chairman Shane McMahon on May 10, 2012

By Devika Patel

Knoxville, Tenn., Jan. 2 – YOU On Demand Holdings, Inc. amended the terms of a $3 million convertible note on Dec. 30, according to an 8-K filed Friday with the Securities and Exchange Commission.

The note was sold to company chairman Shane McMahon on May 10, 2012. Its maturity has been extended to Dec. 31, 2016 from Dec. 31, 2014.

The New York-based company is a national pay-per-view and video-on-demand platform in China.

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