Consorteum Holdings, Inc. (CSRH.PK) Moves Forward with Deployment of Major Initiatives via $300,000 Financing
Consorteum Holdings, Inc. announced today it has entered into an agreement with a single investor for financing in the amount of $300,000. In exchange for the capital, the investor received a secured convertible promissory note for $300,000 bearing interest at 12% per annum. Interest only is payable quarterly in arrears, with all remaining interest and principal due and payable on November 2, 2011. At the discretion of the investor, all or part of the principal may be repaid by the company’s common stock at a 35% discount from the average of the bid and ask price for the ten days…