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ROKWADER, INC. FILES (8-K) Disclosing Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

June 11, 2014



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an

Off-Balance Sheet Arrangement of a Registrant.



On May 22, 2014, Brooktide, LLC, a limited liability company controlled by Yale Farar, the Company's President, loaned $35,000 to the Company and the Company executed a Convertible Promissory Note (the "Note") in favor of Mr. Farar. The proceeds of the Note will be used to pay fees and expenses, to the extent such expenses are not deferred, arising from the Company's compliance with its public reporting requirements and to continue to create viable entertainment assets in the music recording industry as described in the Company's Plan of Operation, as set forth under Item 2 of the Company's Quarterly Report on Form 10-QSB, filed with the Securities and Exchange Commission on May 20, 2014. Pursuant to the terms of the Note, this loan carries interest of 6% per annum and is convertible at the option of the holder at any time into common stock of the Company at $0.53 per share which was the bid price as of the date of the Note. The Note is a demand note and may be paid at any time without premium or penalty. The outstanding balance on the Note is immediately due and payable without notice or demand, upon or at any time after the occurrence or existence of any one or more of the listed "Events of Default".

Item 9.01 Exhibits. (a) Exhibits. Exhibit Item

10.1 Convertible Promissory Note in the amount of $35,000 dated May 22, 2014 in favor of Brooktide, LLC. 2



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Source: Edgar Glimpses


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