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Replies to post #300392 on Plastic2Oil Inc (PTOI)
Eli's Gone
10/20/17 2:08 PM
#300397 RE: Sleepy2016 #300392
On October 18, 2016 the Company entered into a Subscription Agreement with a investors, pursuant to which, the Company sold in a private placement a $400,000 principal amount 12% Secured Promissory Note due on October 18, 2021, together with a five-year warrant to purchase up to 400,000 shares of the Company’s common stock at an exercise price of $0.12 per share.
Secured Promissory Note -$100,000 in August 24, 2016 bearing interest of 12% per annum compounded annually, together with a five-year warrant to purchase up to one million shares of the Company’s common stock at an exercise price of $0.12 per share, and payable upon maturity in 2021 and secured by a security interest in substantially all of the assets of the Company and its subsidiaries.