Replies to post #5137 on Magnum d''Or Resources, Inc. (fka MDOR)

[Makamai]

AAO - You didn't dig very deep. The 8K is very clear in the exhibits as to the interest rate of the note:

"...The terms of the financing include a cash disbursement to Magnum of $15,000,000 USD. In return, Magnum will issue an eight (8) year convertible promissory note that requires no payments for the initial four (4) years. Interest will accrue at an equivalent rate of 12.5% per annum non-compounded to yield a total overall return on the investment instrument of 50%. In the fourth through eighth years of the note the interest rate will be reduced to a 5% per annum yield. After the fourth year but before maturity the holder may elect to convert the note to common stock based upon a trailing 20 trading day closing stock price...."

Makamai