Sigma Labs Inc (SASI)

[alanthill]

Here's what I get. Two investors with aggregate loan of a million dollars. $900,000 available to SGLB subject to additional expenses. (I'm not clear what the missing $100,000 is applied to).

Note is convertible to common shares (at option of note holders)at the lower of the cost of shares at the upcoming offering, or 150% of the closing price of the common shares when note was signed (something like $4.00 a share). The warrants are exercisable under the same terms 90 days after offering or after July of next year which ever comes first). The term of the loan is one year with quarterly interest payments. The loan can be repaid without penalty at 115% of the outstanding balance plus accrued interest.

Lot's of other provisions but that seems to be the major features. Making the leap of faith that the loan will carry them until major sales take place I would say it was a better deal than I would have expected investors to give them.