Coda Octopus Group Inc (CODA)

[10 bagger]

Why don't they just pay the damn interest and not give away shares..

Subsequent events
On February 7, 2013, we received notice of transfer of the Debentures from Solidor Investments Limited
to CCM Holdings, LLC, a New Jersey Limited Liability Company.
Under the terms of the Deed of Amendment entered into between the Company and the Debenture
Holder on or around April 30, 2012, the parties have now agreed that the annual coupon for the current
year is $510,000, payable on or before November 1, 2013. The remaining $510,000 is payable on the
maturity date of the Debentures or redemption (whichever occurs first), unless otherwise agreed
between the Parties.
On March 5, 2013, the Board of Directors agreed to issue to CCM Holdings, LLC 4,021,280 shares of our
common stock in full and final satisfaction of an amount of $571,036 (which formed part of a series of
small loans which the Debenture Holder had made available as working capital to the business in March
2011). The shares, which are restricted, were valued at $0.142, representing a 24% premium over the
then market price of the common stock, on the date that the Board approved the issuance in lieu of this
obligation.