$APTY: 8K OUT.... Paying Debt created by an earli
Post# of 103030
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Posted On: 11/22/2017 1:21:20 PM
$APTY: 8K OUT....
Paying Debt created by an earlier Material Definitive Agreement.
On May 17, 2017, APT Systems, Inc. (“we,” “us,” “our,” or “Company”) issued a $53,000.00 convertible debenture (the “Debenture”) to PowerUp Lending Group, Ltd. (“Buyer”), in exchange for $50,000.00 in cash, which was funded in full by May 17, 2017. The Debenture bears interest at 8% per annum. The principal amount as well as the accrued and unpaid interest under the Debenture as agreed is due and payable on November 16, 2017. The Debenture contained representations, warranties, events of default, beneficial ownership limitations, and other provisions that are customary of similar instruments. At any time while the Debenture was outstanding, we could redeem any portion of the principal amount of the Debenture by making a payment of 137% multiplied by the prepayment amount plus the applicable accrued and unpaid interest. We notified the Buyer of our intent to repay funds and interest on November 10, 2017.
On November 15 and 16, 2017, APT Systems, Inc. issued two wire transfers to the Buyer’s bank for the full total amount due being $75,474.61.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12397696
Paying Debt created by an earlier Material Definitive Agreement.
On May 17, 2017, APT Systems, Inc. (“we,” “us,” “our,” or “Company”) issued a $53,000.00 convertible debenture (the “Debenture”) to PowerUp Lending Group, Ltd. (“Buyer”), in exchange for $50,000.00 in cash, which was funded in full by May 17, 2017. The Debenture bears interest at 8% per annum. The principal amount as well as the accrued and unpaid interest under the Debenture as agreed is due and payable on November 16, 2017. The Debenture contained representations, warranties, events of default, beneficial ownership limitations, and other provisions that are customary of similar instruments. At any time while the Debenture was outstanding, we could redeem any portion of the principal amount of the Debenture by making a payment of 137% multiplied by the prepayment amount plus the applicable accrued and unpaid interest. We notified the Buyer of our intent to repay funds and interest on November 10, 2017.
On November 15 and 16, 2017, APT Systems, Inc. issued two wire transfers to the Buyer’s bank for the full total amount due being $75,474.61.
http://www.otcmarkets.com/edgar/GetFilingHtml...D=12397696
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