That Marketing Solution amends $275,000 convertible promissory notes

FirstFire, R-Squared notes now have a new expiration, conversion price

By Devika Patel

Knoxville, Tenn., Oct. 14 – That Marketing Solution Inc. amended the terms of a $137,500 convertible promissory note held by FirstFire Global Opportunities Fund, LLC on Sept. 18, according to an 8-K filed Wednesday with the Securities and Exchange Commission. It amended a $137,500 convertible promissory note held by R-Squared Partners, LLC on Sept. 28.

Under the amendment, the FirstFire note’s due date was extended to Oct. 20, 2015 from Sept. 20, 2015. In consideration for this, the company agreed to pay FirstFire a $25,753 extension fee, or 15% of the amount owed under the note.

The R-Squared note’s conversion terms were amended as well. With any conversion notice by Oct. 20, the company may choose to allow a conversion or redeem the note at 80. The fixed conversion price until Oct. 20 will be $0.13 per share. After Oct. 20, the conversion price will be the lesser of the fixed conversion price or 50% of the lowest bid price of the stock during the 10 consecutive trading days preceding the conversion notice.

Based in Salt Lake City, That Marketing Solution owns and operates technology that converts oil-based nutrients into water-soluble products for better absorption by cells.

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