Hmmm...
On August 3, 2018, Revolution Lighting Technologies, Inc. (“ Revolution ” or the “ Company ”) agreed, pursuant to an Exchange Agreement dated as of such date (the “ Exchange Agreement ”) to issue shares of its common stock, par value $0.001 per share (“ Common Stock ”), for the exchange and cancellation of a portion of its promissory note issued to Aston Capital, LLC (“ Aston ”). Aston is an affiliate of Robert V. LaPenta, Revolution’s Chairman, Chief Executive Officer and President and James A. DePalma, Revolution’s Chief Financial Officer. Pursuant to the Exchange Agreement, the Company agreed to issue to Aston 1,100,000 shares of the Company’s Common Stock in exchange for $3,344,000 of the outstanding principal amount of, and the accrued and unpaid interest on, that certain promissory note, dated June 30, 2018, made by the Company in favor of Aston in the principal amount of $17,728,342.88 (the “ June Note ”). At Aston’s direction, the Company issued 1,000,000 of the shares to Mr. LaPenta and 100,000 shares to Mr. DePalma. The Company issued an amended and restated promissory note, dated as of August 3, 2018 (the “ August Promissory Note ”) in favor of Aston to reflect the reduced principal amount on the same terms and conditions as the June Note. The August Promissory Note accrues interest at a rate of 9% per annum and becomes due and payable on July 20, 2020.The August Promissory Note is the only promissory note currently outstanding in favor of Aston.
