American Caresource Holdings, Inc. (GNOW)

[TrueTrades]

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On June 3, 2016, American CareSource Holdings, Inc. borrowed $1,638,888.50 from three of the Company’s directors, John Pappajohn, Mark Oman, and Matt Kinley. The loan is evidenced by promissory notes issued to each such director, which bear interest at 6% per annum. Interest-only payments are due and payable under the promissory notes on the first day of each calendar month after the date of issuance, and all principal and accrued but unpaid interest are due and payable 18 months after the date of issuance. The description of the promissory notes in this Current Report on Form 8-K does not purport to be complete and is qualified by reference to the full text of the form of promissory note which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
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