FBEC sells $62,250 of 10% convertibles for $55,000 through placement

Six-month notes due Jan. 2, 2016 offered to investor Beaufort Capital

By Devika Patel

Knoxville, Tenn., July 6 – FBEC Worldwide, Inc. sold a $62,250 convertible promissory note to Beaufort Capital Partners LLC for $55,000 on July 2, according to an 8-K filed Monday with the Securities and Exchange Commission.

The 10% notes are due in six months on Jan. 2, 2016.

The note is convertible into common shares at a price equal to 62.5% of the lowest intraday trading price during the 15 trading days preceding a conversion notice.

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

Issuer:	FBEC Worldwide, Inc.
Issue:	Convertible promissory notes
Amount:	$62,250
Maturity:	Six months, Jan. 2, 2016
Price:	$55,000
Coupon:	10%
Conversion price:	62.5% of the lowest intraday trading price during the 15 trading days preceding a conversion notice
Warrants:	No
Investor:	Beaufort Capital Partners LLC
Settlement date:	July 2
Stock symbol:	OTCBB: FBEC
Stock price:	$0.10 at close July 1
Market capitalization:	$17.82 million

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