ACTIVECARE, INC. (OTCMKTS:ACAR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement
“Company“) reported that it had entered into a Loan
Agreement (the “Loan Agreement“) with Jeff Greene
(“Greene“). to the terms of the Loan Agreement, Greene
loaned the Company $300,000 (the “Loan“). The Loan is
unsecured. The Loan (i) bears interest at the rate of 12.75% per
annum, (ii) matures on June 15, 2017 (the “Maturity
Date“), (iii) requires payment of a $3,000 closing fee, (iv)
is subordinated to the Partners for Growth term loan and line of
credit, and (v) requires payment of a fee of $50,000 for each
thirty days that the loan is outstanding. .
be complete and is qualified in its entirety by the full text of
such document, which is attached as Exhibit 10.1 to this Current
Report on form 8-K and incorporated by reference herein.
Obligation under an Off-Balance Sheet Arrangement of a Registrant
Form 8-K is incorporated by reference into this Item 2.03.
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Exhibit No.
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Description
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10.1*
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Loan Agreement
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About ACTIVECARE, INC. (OTCMKTS:ACAR)
ActiveCare, Inc. provides products and services to those diagnosed with chronic illnesses, and provides real-time visibility to health conditions and risk. The Company’s Chronic Illness Monitoring segment is engaged in the business of developing, distributing and marketing mobile monitoring of patient vital signs and physical activity to insurance companies, disease management companies, third-party administrators, and self-insured companies. The Company’s chronic illness monitoring involves the use of biometric monitoring devices in combination with data and algorithms to assess the wellbeing of an individual under care. The Company’s CareCenter service is designed to monitor and track patients’ health conditions and chronic illnesses on a real time basis. It has developed products that incorporate global positioning system (GPS), cellular capability, and fall detection, all of which are connected to its CareCenter with the push of a button. ACTIVECARE, INC. (OTCMKTS:ACAR) Recent Trading Information
ACTIVECARE, INC. (OTCMKTS:ACAR) closed its last trading session up +6.00 at 20.00 with 223 shares trading hands.
