Vapor Group Inc (VPOR)

[FreezeThese]

LG Capital Funding, LLC v. Vapor Group, Inc
1:16-cv-03951
Filed 7/15/16

5. On or about October 8, 2074, VPOR issued a $115,500.00 8%
Convertible Redeemable Promissory Note to LG ("Note 1") with a maturity date of October 8, 2015 ("Maturity Date"). A true and correct copy of the Note is attached hereto as Exhibit A.

6. On or about May 11, 2015, VPOR issued a $35,000.00 8% Convertible
Redeemable Promissory Note to LG ("Note 2") with a maturity date of May 11,
2016. A true and correct copy of the Note is attached hereto as Exhibit B.

13. After the conversions outlined above were duly made and honored, the
remaining principal balance on Note 1 is 990,000.00.

14. No further conversions were executed under Note 1, and no conversions were executed under Note 2.

15. Shortly after honoring the conversion, on May 21,2015, the Company
became delinquent in its fiIings with the Securities and Exchange Commission despite an obligation to remain'turrent" pursuant to each Note. This delinquency caused the Event of Default contemplated by Section 8(m) of each Note.

19. As of the date of frling, the Notes possess a total value of 165,367.68, consisting of $ 129,515.07 in principal and accrued interest at the date of default and $35,852.61 in default interest accrued thereupon. This amount continues to increase daily at the default interest rate.