KonaRed Corp. (KRED)

[Ocean View]

My Goodness! Did you see them pay this off before it could convert?



ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT



On November 24, 2015, the Company made its final payment toward the $500,000 note (the "Note") which had been issued to Solait Corp on June 5, 2015. This payment included principal and accrued interest totaling $257,890 (the "Final Payment") and followed prior payments of principal and accrued interest totaling $251,556 (the "Interim Payment"). The Interim Payment and the Final Payment were both made prior to their respective due dates and the Note is now repaid in full.




Upon receipt of the Final Payment from the Company, Solait Corp extinguished a share pledge of 3,333,333 shares of the Company which Shaun Roberts, the Company's Chief Executive Officer, had provided as security for the Note (the "Pledge") and released Mr. Roberts from the Pledge. The Company and Mr. Roberts have no further obligations to Solait Corp with respect to the Note.