CenterStaging in default on 10% convertible debentures

By Devika Patel

Knoxville, Tenn., Feb. 11 - CenterStaging Corp. said in an 8-K filing with the Securities and Exchange Commission Monday that BridgePointe Master Fund, Ltd. notified the company that it is in default on its $1.5 million in 10% convertible debentures, which were issued to BridgePointe in a January 2007 private placement.

The company said it received the notice on Feb. 5 as a result of non-payment of interest for October and January.

BridgePointe has accordingly accelerated the payments due, requiring all principal and interest be paid immediately. This amount totals $1,928,417 as of Feb. 5, CenterStaging said in the filing.

The debentures are convertible into common shares at $1.00 each.

Based in Burbank, Calif., CenterStaging provides services for musical productions.

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