Friday, April 03, 2015 2:04:33 AM
QLTS on watch
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10534424
On February 23, 2015, Q Lotus Holdings, Inc. entered into a Securities Purchase Agreement with Global Entertainment Properties, LLC (the “Agreement”). The Agreement provides for (i) the purchase on or before March 9, 2015 of 400,000,000 shares of its common stock for $2,500,000 (the “Initial Payment”) and (ii) additional consideration of $57,500,000 to be paid incrementally over the next one year after the Initial Payment is fully satisfied, terms and conditions of which will be negotiated in good faith between the parties as immediately hereafter as the parties may allow. Additionally, Global Entertainment Properties, LLC agrees to utilize its best efforts to make available a $140,000,000 line of credit to finance Q Lotus Holdings, Inc. projects on such terms and for such projects as shall be mutually approved by Q Lotus Holdings, Inc. and Global Entertainment Properties, LLC.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10534424
On February 23, 2015, Q Lotus Holdings, Inc. entered into a Securities Purchase Agreement with Global Entertainment Properties, LLC (the “Agreement”). The Agreement provides for (i) the purchase on or before March 9, 2015 of 400,000,000 shares of its common stock for $2,500,000 (the “Initial Payment”) and (ii) additional consideration of $57,500,000 to be paid incrementally over the next one year after the Initial Payment is fully satisfied, terms and conditions of which will be negotiated in good faith between the parties as immediately hereafter as the parties may allow. Additionally, Global Entertainment Properties, LLC agrees to utilize its best efforts to make available a $140,000,000 line of credit to finance Q Lotus Holdings, Inc. projects on such terms and for such projects as shall be mutually approved by Q Lotus Holdings, Inc. and Global Entertainment Properties, LLC.
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