Jacobs Financial Gr. Inc. (fka JFGI)

[funnyG986]

JFGI 0.0048 8K OUT

On August 5, 2015 the Registrant completed a $1,600,000 transaction which resulted in its acquisition from certain of the Registrant's note holders of 49.3% ($1.725 million face amount) of the outstanding senior promissory notes comprising part of a $3.5 million financing dating from 2008, together with interest accrued thereon. The notes representing the $1.775 million balance of this financing (together with accrued interest) had been acquired by an affiliate of the Registrant in July 2014. The entire issue of senior promissory notes had been in default. Upon closing of the acquisition, the collateral securing the senior promissory notes was released to the Registrant.