Replies to post #164377 on 1812 Brewing Company Inc (KEGS)

[lightbeam]

How much has TS added to us as a holding company. He is building a business. Good luck to you.

[bradakus]

mabe this will help.



On November 30, 2007, the Company entered into a $375,000 Convertible Debenture. The Company paid $50,000 in financing fees and received a net $325,000. The note is due November 30, 2010 and bears interest at the rate of 10% per annum. The note is convertible at the




38






SEAWAY VALLEY CAPITAL CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2007




lesser of $0.12 per share or 90% of the lowest volume weighted average price during the twenty days immediately preceding the conversion. The note was issued with 40,000,000 warrants with a life of 5 years and an exercise price of $0.01. The Convertible debenture is guaranteed by the Company's subsidiaries Hackett’s and WiseBuys. The debt is secured by all of the company's assets. The Company has also entered into a registration rights agreement, whereby the Company is required to file a registration statement covering the resale of the convertible shares and warrant shares within 120 days of November 30, 2007 Failure to file the registration statement within 120 days will result in liquidated damages in the amount of 2% per month until the default is cured.

http://www.altassets.com/casefor/countries/2002/nz3163.php