Makism 3D Corp. (fka MDDD)

[DrContango]

Do they need to raise $$ or something?

They just did! A nice toxic death-spiral debenture!!! They just need to create a market into which to sell short prior to the conversion...

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10140033

ITEM 1.01 ENTRY INTO MATERIAL DEFINITIVE AGREEMENT

On August 4, 2014, Makism 3D Corp., a Nevada corporation (the "Company"), entered into a convertible note (the "Note") with JMJ Financial, a Nevada sole proprietorship ("JMJ") for a loan in the principal amount of Five Hundred Thousand Dollars ($500,000). The purchase price for the Note is Four Hundred Fifty Thousand Dollars ($450,000) with an original issue discount of Fifty Thousand Dollars ($50,000). JMJ is obligated to fund Seventy Five Thousand Dollars ($75,000) upon the closing of the Note and additional amounts may be funded by JMJ up to Four Hundred Twenty Five Thousand Dollars ($425,000). The principal amount due to JMJ is prorated based on the consideration actually paid by JMJ, plus an approximate 10% original issue discount. The maturity date of the Note is two years from the effective date of each payment made by JMJ to the Company. If the Company repays the full amount due under the Note on or before ninety (90) days of the effective date of the Note, then the interest rate for the repayment is 0%. If repayment is made after such ninety (90) day period, then a one-time interest charge of 12% will be applied to the principal amount due under the Note. Any payment made after such ninety (90) day period but prior to the maturity date of the Note requires the written consent of JMJ.

Pursuant to the terms of the Note, JMJ has the option of converting all or part of any unpaid amounts due under the Note to shares of the Company's common stock (the "Conversion Shares") at a conversion price equal to the lesser of $0.07 or 60% of the lowest trading price for the Company's stock in the twenty five (25) days prior to the conversion. The Company has also agreed to register the Conversion Shares in the next registration statement filed by the Company, and failure to do so will result in liquidated damages of 25% of the outstanding principal balance of the Note, but not less than $25,000, being immediately due and payable to JMJ. The Company has also agreed to provide JMJ with the option of incorporating the terms of any future financings that are more favorable to an investor during the time that the Note remains outstanding.