Wednesday, September 23, 2015 1:41:37 PM
Item 1.01. Entry into a Material Definitive Agreement.
On September 17, 2015, High Performance Beverages Company (the “Company”) entered into a Settlement Agreement (the “Settlement Agreement”) with Centaurian Fund, L.P. (“Centaurian”). In accordance with the Settlement Agreement, the Company agreed to issue to Centaurian a convertible promissory note in the principal amount of $240,500 (the “Note”), in exchange for the return and cancellation of certain outstanding debt held by Centaurian. The debt was comprised of an aggregate of $240,500 of principal and interest on i) a convertible debenture in the original principal amount of $60,000 issued to Centaurian on April 30, 2013, ii) a senior secured convertible promissory note with an original principal balance of $100,000, which Centaurian had assumed from Mr. Pierce Csurgo on June 17, 2013, and iii) a convertible note with an original principal amount of $42,000 issued to Centaurian on March 31, 2014 (collectively, the “Cancelled Debt”).
http://archive.fast-edgar.com//20150923/AE29C22CL222K23Z282R2MX2ESHUZ222Z272/
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