Published on 1/13/2016 in the Prospect News PIPE Daily.
That Marketing Solution sells $31,000 convertible in $25,000 issuance
Convertibles sold to Beaufort Capital with an original issue discount
By Devika Patel
Knoxville, Tenn., Jan. 13 – That Marketing Solution Inc. raised $25,000 in a private placement of $31,000 convertible promissory notes with Beaufort Capital Partners LLC on Jan. 7, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The notes have an original issue discount of $6,000 and are due on June 7, 2016. They convert to common shares at a 42.5% discount to the lowest intra-day traded price of the stock during the 15 days preceding conversion. The convertibles may be prepaid at face value.
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.
Issuer: | That Marketing Solution Inc.
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Issue: | Convertible promissory notes, 150,000 unregistered and restricted common shares
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Amount: | $31,000
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Maturity: | June 7, 2016
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Price: | $25,000 ($6,000 original issue discount)
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Conversion price: | 42.5% discount to the lowest intra-day traded price of the stock during the 15 days preceding conversion
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Call: | At par of $31,000
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Warrants: | No
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Investor: | Beaufort Capital Partners LLC
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Settlement date: | Jan. 7
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Stock symbol: | OTCBB: TSTS
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