RumbleOn Inc (RMBL)

[Big Brother]

8K filing out yesterday, they have secured a decent amount of funding to start this thing up, just got to figure out exactly what 'this' is.

Looks like $1.50 range will be a good starting point for trading, still waiting for blocks to appear though.

On November 28, 2016, Smart Server, Inc. (the “Company”) completed a private placement (the “Private Placement”) with certain accredited investors (the “Purchasers”), with respect to the sale of an aggregate of 900,000 shares of common stock of the Company (the “Common Stock”) at a purchase price of $1.50 per share for total consideration of $1,350,000. In connection with the Private Placement, the Company also entered into loan agreements with the Purchasers (the “Loan Agreements”), pursuant to which the Purchasers will loan to the Company their pro rata share of up to $1,350,000 in the aggregate (the “Applicable Loan Amount”) upon the request of the Company at any time on or after January 31, 2017 and before November 1, 2020, pursuant to the terms of the convertible promissory note (the "Note") attached to each of the Loan Agreements.

The principal amount of the Notes will be equal to the Applicable Loan Amount and the Notes will have a maturity date of November 1, 2020. Interest on the Notes will be accrued annually at 9.5%. In the event of an equity financing of at least $1,500,000 following the execution of the Loan Agreements (a “Qualified Financing”), the Notes will be convertible in whole, but not in part, at the election of the Purchasers, at a price equal to the lesser of (i) $1.50 and (ii) the price per share in a proposed Qualified Financing. The Company will have the right to prepay the Notes without penalty at any time.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11719243