Posted On: 12/20/2016 9:18:11 AM
Post# of 99179
ASTI big bounce coming note is not convertible thats huge no more shares
All notes issued are not convertible into equity shares of ASTI.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=11727388
``Item 1.01 Entry into a Material Definitive Agreement.
Offering of Unsecured Non-Convertible Notes
As previously disclosed, on August 29, 2016, Ascent Solar Technologies, Inc., a Delaware corporation (the “Company”) issued a $330,000 original issue discount note to Tertius Financial Group Pte. Ltd. (“Tertius”), in exchange for $300,000 of gross proceeds. This note was scheduled to mature on November 29, 2016.
On December 6, 2016, the Company issued a new $600,000 original issue discount note to Tertius in exchange for (i) $200,000 of gross proceeds and (ii) cancellation of the existing outstanding $330,000 note.
The new Tertius note (i) will mature December 31, 2017 and (ii) will bear interest at a rate of 6% per annum. Principal and interest on the new Tertius note is payable at maturity. The new Tertius note is not convertible into equity shares of the Company. The new Tertius note is unsecured.
Tertius is an investment firm located in Singapore. Victor Lee, the Company’s president and CEO, is a managing director and 50% owner of Tertius.
On December 2, 2016, the Company issued a $380,000 note to one accredited investor in exchange for $380,000 of gross proceeds.
This investor note (i) will mature June 1, 2017 and (ii) will bear interest at a rate of 12% per annum. Principal and interest on this note are payable at maturity. This note is not convertible into equity shares of the Company. This note is unsecured.``
All notes issued are not convertible into equity shares of ASTI.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=11727388
``Item 1.01 Entry into a Material Definitive Agreement.
Offering of Unsecured Non-Convertible Notes
As previously disclosed, on August 29, 2016, Ascent Solar Technologies, Inc., a Delaware corporation (the “Company”) issued a $330,000 original issue discount note to Tertius Financial Group Pte. Ltd. (“Tertius”), in exchange for $300,000 of gross proceeds. This note was scheduled to mature on November 29, 2016.
On December 6, 2016, the Company issued a new $600,000 original issue discount note to Tertius in exchange for (i) $200,000 of gross proceeds and (ii) cancellation of the existing outstanding $330,000 note.
The new Tertius note (i) will mature December 31, 2017 and (ii) will bear interest at a rate of 6% per annum. Principal and interest on the new Tertius note is payable at maturity. The new Tertius note is not convertible into equity shares of the Company. The new Tertius note is unsecured.
Tertius is an investment firm located in Singapore. Victor Lee, the Company’s president and CEO, is a managing director and 50% owner of Tertius.
On December 2, 2016, the Company issued a $380,000 note to one accredited investor in exchange for $380,000 of gross proceeds.
This investor note (i) will mature June 1, 2017 and (ii) will bear interest at a rate of 12% per annum. Principal and interest on this note are payable at maturity. This note is not convertible into equity shares of the Company. This note is unsecured.``
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