Applied Digital Solutions extends maturity on $5.35 million in notes

By Sheri Kasprzak

New York, Dec. 5 - Applied Digital Solutions, Inc. said it extended the maturity on $5,350,454 in senior unsecured notes.

The notes will now be due on March 10, 2006, moved up from Dec. 10.

The notes were issued to Satellite Strategic Finance Partners, Ltd. and Satellite Strategic Associates, LLC on June 10 as part of a $17,172,500 offering of notes and series D convertible preferred stock.

The notes were issued at 93.45% of face value and are convertible into preferred stock under certain circumstances. The exact conversion ratio of the notes to preferreds was unavailable Monday.

Based in Delray Beach, Fla., Applied develops security monitoring systems.

On Monday, the company's stock lost $0.05 to close at $2.97, but gained a penny in after-hours trading.

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