APT SYSTEMS, INC. (OTCMKTS:APTY) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Entry Material Agreement
Paying Debt created by an earlier Material Definitive Agreement with RDW Capital, LLC.
On November 1, 2016, APT Systems, Inc. (“we,” “us,” “our,” or “Company”) issued a $52,500.00 convertible debenture (the “Debenture”) to RDW Capital, LLC (“Buyer”), in exchange for $50,000.00 in cash, which was funded in full by November 11, 2016. The Debenture bears interest at 5% per annum. The principal amount as well as the accrued and unpaid interest under the Debenture as agreed was due and payable on May 4, 2017. The Debenture contained representations, warranties, events of default, beneficial ownership limitations, and other provisions that are customary of similar instruments. At any time while the Debenture was outstanding, we could redeem any portion of the principal amount of the Debenture by making a payment of 130% multiplied by the prepayment amount plus the applicable accrued and unpaid interest.
On May 4, 2017 half of the Debenture and interest was repaid and $26,250.00, the outstanding balance of the Debenture, was further extended for an additional six months to November 6, 2017 by mutual agreement without cause for conversion. We notified the Buyer of our intent to repay balance and interest on November 5, 2017.
On November 20, 2017, APT Systems, Inc. replaced a misdirected wire transfer to the Buyer’s bank for the balance requested being $25,714.73 and the Buyer confirmed receipt.
Item 3.02.Unregistered Sales of Equity Securities
Paying Debt through partial conversion of the RDW Capital, LLC Debenture
On November 1, 2016, APT Systems, Inc. (“we,” “us,” “our,” or “Company”) issued a $52,500.00 convertible debenture (the “Debenture”) to RDW Capital, LLC (“Buyer”), in exchange for $50,000.00 in cash. The Buyer undertook a partial conversion of the convertible Debenture for the principal amount of $7,500.00 in exchange for 1,923,077 common shares at .0039 cents per share on November 8, 2017. The outstanding debt was reduced accordingly prior to repayment of balance $18,750.00 (plus interest and fees) due on November 6, 2017.
Item 9.01.Financial Statements and Exhibits
About APT SYSTEMS, INC. (OTCMKTS:APTY)
APT Systems, Inc. is engaged in the creation of stock trading platforms, market scans with indicators, financial applications and visualization solutions for charting the financial markets. The Company is also seeking to acquire and grow other compatible financial technology businesses or software. The Company is involved in providing technical writing and computer assisted design services to other startups using a contractor. The Company focuses on its charting software. The Company’s charting tool and the charts that it produces can be configured to the user’s preferred view, such as a line chart or candlestick chart, and the user shall be able to adjust the chart intervals as the user desires. The Company’s services may include financial software and analytical software development, algorithmic applied technology, trading platform refinement and linking to brokerage accounts, and analytical charting software development.