Radioio Inc (RAIO)

[User83]

On September 2, 2013, ioWorldMedia, Incorporated (the “Company”) sold 10% Convertible Debentures to three accredited investors, including Big Red Investments Partnership, Ltd. (an affiliate of Thomas J. Bean, who is a member of the Company’s board of directors and former Chairman, President, Chief Executive Officer and Chief Financial Officer of the Company), Zanett Opportunity Fund, Ltd. (an affiliate of Zachary McAdoo, the current Chairman, President, Chief Executive Officer and Chief Financial Officer of the Company), and an unaffiliated individual investor, in the aggregate principal amount of $350,000 (the “Convertible Debentures”). The Company will use the proceeds from these transactions for general corporate and working capital purposes.