CNS Response seals $100,000 of $2 million convertibles placement

Company offers 9% secured convertible promissory notes due 2013

By Devika Patel

Knoxville, Tenn., Sept. 12 - Gulfstream International Group, Inc. settled a $100,000 tranche of a $2 million private placement of 9% senior secured convertible promissory notes with SAIL Holdings LLC on Sept. 6, according to an 8-K filed Wednesday with the Securities and Exchange Commission. It raised another $300,000 with other investors on Aug. 17, Aug. 21 and Aug. 22.

The note is due Oct. 1, 2013 and is initially convertible into common shares at $0.04718 per share, which represents a 94.76% discount to $0.90, the Aug. 16 closing share price.

Based in Costa Mesa, Calif., CNS Response develops and commercializes new indications of approved drugs and drug candidates.

Issuer:	CNS Response, Inc.
Issue:	Senior secured convertible promissory notes
Amount:	$2 million
Maturity:	Oct. 1, 2013
Coupon:	9%
Conversion price:	$0.04718
Warrants:	No
Investor:	SAIL Holdings LLC (for $100,000)
Settlement date:	Aug. 17 (for $100,000), Aug. 21 (for $100,000), Aug. 22 (for $100,000), Sept. 6 (for $100,000)
Stock symbol:	OTCBB: CNSO
Stock price:	$0.90 at close Aug. 16
Market capitalization:	$1.33 million

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