All American Pet Company Inc (AAPT)

[EarnestDD]

3/6/12 in an 8k. So what happened to this financing?
jmo

Item 1.01 Entry into a Material Definitive Agreement.

On March 6, 2012, the Registrant executed a Convertible Revolving Grid Note (the “Note”) for a principal sum of up to One Million Dollars ($1,000,000) with the Founders of the Company, Lisa Bershan and Barry Swartz (the “Lenders”). The note bears interest at a fixed rate equal to Ten percent (10%) per annum and may be converted into equity of the Company at a conversion price of $0.0022, on or before March 6, 2013, at the option of the Holders. This transaction is deemed a related party transaction pursuant to Item 404(a) of Regulation S-K on the basis that the Lenders also serve as the Registrants principal officers and Directors of the Company. Additionally, Mr. Schwartz and Mrs. Bershan are husband and wife. The proceeds will be used for general working capital.