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EWASTE SYSTEMS, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement

August 8, 2014



Item 1.01 Entry Into Material Definitive Agreement.

On August 1, 2014, E-Waste Systems, Inc ("EWSI") upon the approval of the Board of Directors pursuant to duly authorized and adopted resolution concluded a series of agreements including that certain Amendment Agreement with Redwood Management, LLC a limited liability company organized under the laws of Florida ("Redwood") modifying the Loan Agreement and Promissory Note previously entered into with TCA Global Credit Master Fund LP, A Cayman Islands Limited Partnership ("TCA") effective on December 6, 2013 in the original face amount of $1 Million plus interest thereon (collectively the "TCA Obligations") and providing that Redwood will assume the TCA Obligations and in connection therewith EWSI executed two Replacement Revolving Notes in the amounts of $135,709.99 and $949,969.94 together with an Amendment Agreement providing for more favorable economic terms and conversions.

EWSI obtained additional working capital and executed a Convertible Promissory Debenture in the face amount of $200,000 and corresponding Agreement between EWSI and Redwood providing for three scheduled advances thereunder.

The foregoing descriptions of the agreements do not purport to be complete and are qualified in their entirety by reference to the full test of the agreements to be provided as Exhibits to the June 30, 2014 Form 10-Q as filed.


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Source: Edgar Glimpses


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