SentiSearch, Inc. (SSRC)

[e-ore]

From today's 10q. The company has had over 3 years to do something like this, makes me think something may be in the works:

"10. Subsequent Events

On April 8, 2010, pursuant to the terms of the Notes, the conversion price of the Notes was set at $0.05. Also, on April 8, 2010, each of the holders elected to convert all of the then outstanding principal and interest, totaling $203,697, on such Notes, which resulted in the issuance to them of an aggregate of 4,073,943 shares of the Company’s common stock. The conversion of the Notes resulted in the Notes being satisfied in full. (See Note 7 for a complete description of the Notes).

On April 12, 2010, the Company received $80,000 and issued to each of four individuals $20,000 principal amount of promissory notes. The investors included the Company’s Chief Executive Officer, and Chairman of the Board, a director of the Company who is also a beneficial owner of more than 10% of the Company’s outstanding common stock, another beneficial owner of more than 10% of the Company’s outstanding common stock and one other individual. These notes bear interest of 4% per annum. Principal and accrued interest on the notes are payable on April 12, 2015; provided, however that the notes become due and payable immediately upon the Company’s consummation of an equity financing resulting in net proceeds to the Company in excess of $2,500,000."