FBEC sells $137,500 of its 10% convertibles via $120,000 placement

Six-month notes offered to investor Beaufort Capital in two tranches

By Devika Patel

Knoxville, Tenn., Aug. 6 – FBEC Worldwide, Inc. sold an $85,000 convertible promissory note for $75,000 on Aug. 4 and a $52,500 convertible promissory note for $45,000 on Aug. 6, according to an 8-K filed Thursday with the Securities and Exchange Commission. Beaufort Capital Partners LLC was the investor for both sales.

The 10% notes are due in six months on Feb. 5, 2016 and Feb. 7, 2016.

The note is convertible into common shares at a price equal to 65% of the lowest intraday trading price during the 20 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:	$137,500
Maturity:	Six months, Feb. 5, 2016 and Feb. 7, 2016
Price:	$120,000 ($17,500 original issue discount)
Coupon:	10%
Conversion price:	65% of the lowest intraday trading price during the 20 trading days preceding a conversion notice
Warrants:	No
Investor:	Beaufort Capital Partners LLC
Settlement dates:	Aug. 4 (for $75,000), Aug. 6 (for $45,000)
Stock symbol:	OTCBB: FBEC
Stock price:	$0.09 at close Aug. 3
Market capitalization:	$14.26 million

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