FBEC sells $115,250 of 10% convertibles for $97,750 through placements

Three six-month notes sold to Beaufort Capital in two-tranche offering

By Devika Patel

Knoxville, Tenn., May 19 – FBEC Worldwide, Inc. sold a $50,250 convertible promissory note to Beaufort Capital Partners LLC for $45,250 on April 30, according to an 8-K filed Tuesday with the Securities and Exchange Commission. It sold $65,000 of convertible promissory notes to Beaufort Capital for $52,500 on May 15.

The 10% notes are due in six months on Oct. 30, 2015 and Nov. 14, 2015.

The April 30 note is convertible into common shares at a price equal to 60% of the lowest intraday trading price during the 20 days preceding a conversion notice.

The two May 15 notes have principal amounts of $20,000 and $45,000 and were sold for $15,000 and $37,500, respectively. These notes are convertible at a price equal to 62% of the lowest intraday trading price during the 20 days preceding a conversion notice.

The company paid a $5,000 processing fee on the April 15 note, a $5,000 processing fee on the first of the May 15 notes and a $7,500 processing fee on the second May 15 note, which accounts for the principal discounts.

The beverages and snack company is based in Cheyenne, Wyo.

Issuer:	FBEC Worldwide, Inc.
Issue:	Convertible promissory notes
Amount:	$115,250
Maturity:	Six months
Price:	$97,750
Coupon:	10%
Warrants:	No
Fees:	$17,500
Investor:	Beaufort Capital Partners LLC
Stock symbol:	OTCBB: FBEC
Stock price:	$0.09 at close April 29, $0.01 at close May 14
Market capitalization:	$36,990
April 30 note
Amount:	$50,250
Maturity:	Oct. 30, 2015
Price:	$45,250
Conversion price:	60% of the lowest intraday trading price during the 20 days preceding a conversion notice
Fees:	$5,000
Settlement date:	April 30
First May 15 note
Amount:	$20,000
Maturity:	Nov. 14, 2015
Price:	$15,000
Conversion price:	62% of the lowest intraday trading price during the 20 days preceding a conversion notice
Fees:	$5,000
Settlement date:	May 15
Second May 15 note
Amount:	$45,000
Maturity:	Nov. 14, 2015
Price:	$37,500
Conversion price:	62% of the lowest intraday trading price during the 20 days preceding a conversion notice
Fees:	$7,500
Settlement date:	May 15

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