13-month 5% convertible debt issued to chief executive officer George
By Devika Patel
Knoxville, Tenn., Sept. 10 – Epcylon Technologies, Inc. said it settled a $1 million 5% convertible loan financing with chief executive officer Peter George.
The 13-month loan is convertible into common stock and may be prepaid. It will automatically convert at maturity.
The software developer is based in Toronto.
| Issuer: | Epcylon Technologies, Inc.
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| Issue: | Convertible loan
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| Amount: | $1 million
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| Maturity: | 13 months
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| Coupon: | 5%
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| Call: | Yes
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| Warrants: | No
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| Investors: | Peter George
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| Settlement date: | Sept. 10
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| Stock symbol: | OTCBB: PRFC
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| Stock price: | $0.18 at close Sept. 9
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| Market capitalization: | $29.48 million
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