On September 28, 2011, the Company") completed the second tranche of a private sale of up to $2 million of 9% Subordinated Convertible Promissory Notes (the "9% Notes") to 15 accredited investors, including one of the Company's independent directors, pursuant to Securities Purchase Agreements. The aggregate principal amount of the 9% Notes sold in the second tranche is $450,712.78. The 9% Notes are convertible, at the election of the holders, into shares of the Company's common stock at a conversion price of $0.72 per share. The 9% Notes are due and payable on October 27, 2012, and are subordinate to certain senior debt owed by the Company to GRM pursuant to the terms and conditions of a Subordination Agreement among each investor, the Company and GRM.
Picked up a few at .28 and thought they were ripe for the CEO announcement-
Many older folks have home computer issues and would welcome a "remote control" assistance with crashes and virus protection..
Looks like they can hook into your home hard drive and clean/defrag as well as scan while you speak to a live person?
If cost effective, might be good change of direction for them.
Good call- see you were posting on the CYDE board a month or so ago...
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