SentiSearch, Inc. (SSRC)

[e-ore]

10q for 9/30/11 filed today. In it, the 4 note holders (management and a beneficial investor) have loaned the company more money:

"On November 11, 2011, the Company entered into a subscription agreement with the Note Holders pursuant to which the Company raised an aggregate of $200,000. Each Note Holder invested $50,000 and received in exchange a promissory note in favor of such investor in the amount of $50,000 (collectively, the “November 2011 Notes”) and a warrant to purchase 333,333 shares of our common stock at an exercise price of $0.15 per share (the “Warrants”).

The November 2011 Notes accrue interest at a rate of six percent per annum, which interest shall be paid quarterly until April 19, 2014, at which time the outstanding principal amount, with interest accrued thereon, shall be due and payable. The November 2011 Notes shall become due and payable upon customary events of default or if the Company consummates an equity financing resulting in net proceeds of $4,000,000 or more to the Company. The Warrants are exercisable, in whole or in part, during the period from November 11, 2011 to November 11, 2016."

Two names I haven't seen before have been given options under the company's stock incentive plan. One may be this gentleman

http://www.linkedin.com/pub/arnold-pollard/11/446/b95

The other is a man named Robert Reinhart.

The company has changed their address to the NYC office they opened in Manhattan last February.

No news on any results from the research and product development agreement with Bayer Crop Science yet. Good to see that the insiders (who hold 75.5% of the outstanding shares) are still willing to provide funding.