Published on 6/13/2012 in the Prospect News PIPE Daily.
Net Savings Link completes $50,000 placement of 8% convertible note
Convertible promissory note due 2013 purchased by Asher Enterprises
By Devika Patel
Knoxville, Tenn., June 13 - Net Savings Link, Inc. sold a $50,000 convertible promissory note to Asher Enterprises, Inc. on June 4, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 8% note is due March 6, 2013 and may be converted into common shares at a 42% discount to the market price. It may be prepaid at a premium.
Net Savings is a Clearwater, Fla., online provider of discount offers and savings opportunities.
Issuer: | Net Savings Link, Inc.
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Issue: | Convertible promissory note
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Amount: | $50,000
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Maturity: | March 6, 2013
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Coupon: | 8%
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Conversion price: | A 42% discount to the market price
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Warrants: | No
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Investor: | Asher Enterprises, Inc.
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Settlement date: | June 4
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Stock symbol: | OTCBB: NSAV
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Stock price: | $0.01 at close June 1
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Market capitalization: | $4.04 million
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