Dial Thru extends maturity on $1.25 million 12% convertible note, debentures

By Sheri Kasprzak

Atlanta, June 6 - Dial Thru International said the investor on its $1.25 million convertible note has agreed to extend the maturity of the note a little more than three and a quarter years.

The 12% note, which has been sold to Global Capital Funding Group LP, will now be due Feb. 28, 2008. It had previously been due Nov. 8, 2004.

Also, $350,000 in interest due on the note was converted to a non-interest bearing note due March 2007.

GCA Strategic Investment Fund Ltd., the investor on two 6% convertible debentures for $550,000 each, has agreed to extend the maturities of those debentures.

The maturity of the $550,000 debenture issued in January 2002 will be extended to Nov. 26, 2005 from Nov. 28, 2004. The maturity of the $550,000 debenture issued in July 2003 will be extended to Nov. 26, 2006 from Nov. 28, 2004.

"Both Global and GCA have shown their support over the past four years by providing financing and flexibility regarding the terms of their respective financings, helping to support our growth and further emphasizing their belief in the direction of our company," said John Jenkins, Dial Thru's chief executive officer, in a statement.

"We believe these extensions will enhance our ability to aggressively grow our new voice-over internet protocol products that we have recently announced."

Based in Los Angeles, Dial Thru is a voice-over internet protocol communications provider.

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