Tuesday, September 01, 2015 1:10:58 AM
http://www.otcmarkets.com/stock/DATI/profile
http://www.otcmarkets.com/financialReportViewer?symbol=PNOW&id=143638
17. During April 2015, the Company entered into a $100,000 Line of Credit Agreement with
Digital Arts Media Network, Inc., a Colorado corporation. The line of credit Agreement
bears interest at 10 percent and has a December 31, 2016 maturity date. Accrued interest
is payable on a quarterly basis no later than the 5th business day following the end of
such quarter. Any overdue principal or interest shall bear interest at 15 percent until paid
in full.
h. The agreement was entered into pursuant to Section 4(2) of the Securities Act of
1933, as amended, and Rule 506 promulgated thereunder;
i. The transaction was unregistered;
j. The transaction was executed via a private agreement and not a public offering;
k. The agreement called for conversion into restricted common shares on any
outstanding balance after the Maturity Date;
l. As of June 30, 2015, advances under the line of credit and accrued interest were
approximately $57,240; and $4,000, respectively.
m. The Line of Credit Agreement is not publicly traded however, outstanding
amounts owed can only convert into common shares after the Maturity Date;
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