10% convertible note due Dec. 11, 2015 was sold to JSJ Investments
By Devika Patel
Knoxville, Tenn., July 6 – Elite Data Services, Inc. sold a $100,000 convertible note to JSJ Investments Inc. on June 11, according to an 8-K filed Monday with the Securities and Exchange Commission.
The 12% note is due Dec. 11, 2015 and is convertible into common shares at a price equal to a 45% discount to the lowest trading price during the 20 trading days preceding the conversion date. It may be redeemed at prices ranging from 135 to 145.
The marketing company is based in Dallas.
| Issuer: | Elite Data Services, Inc.
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| Issue: | Convertible note
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| Amount: | $100,000
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| Maturity: | Dec. 11, 2015
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| Coupon: | 12%
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| Conversion price: | 45% discount to the lowest trading price during the 20 trading days preceding the conversion date
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| Call: | At 135 to 145
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| Warrants: | No
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| Investor: | JSJ Investments Inc.
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| Settlement date: | June 11
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| Stock symbol: | OTCBB: DEAC
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| Stock price: | $0.18 at close June 10
|
| Market capitalization: | $3.43 million
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