DSG GLOBAL, INC. (OTCMKTS:DSGT) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities.
On September 19th, a convertible promissory note of $107,000 that carries an interest rate of 10%, matures on March 6, 2018, and grants a senior secured debt position became effective from its issuance date of September 6th, 2017. The note gives the holder a right to convert the principal to common shares. The conversion price (the “Conversion Price”) shall equal the lesser of the (i) lowest Trading Price (as defined below) during the previous twenty-five (25) Trading Day period ending on the latest complete Trading Day prior to the date of this Note and (ii) lowest Trading Price during the previous twenty-five (25) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date (the result of which shall mean the “Fixed Conversion Price”), provided,
The Conversion Price is subject to full ratchet anti-dilution in the event that the Company issues any common stock at a per share price lower than the Conversion Price (each a “Dilutive Price”) then in effect, provided, however, that Holder shall have the sole discretion in deciding whether to utilize such Dilutive Price instead of the Conversion Price otherwise in effect at the time of the respective conversion.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
DSG Global Inc. Exhibit…To view the full exhibit click here
About DSG GLOBAL, INC. (OTCMKTS:DSGT)
DSG Global, Inc., formerly Boreal Productions Inc., is a technology development company. The Company is engaged in the design, manufacture and marketing of fleet management solutions for the golf industry, as well as commercial, government and military applications. Its principal activities are the sale and rental of global positioning system (GPS) tracking devices and interfaces for golf vehicles and related support services. The Company offers TAG suite of products, which is sold and installed around the world in golf facilities and as commercial applications. The Company focuses on the golf industry where its TAG system is deployed to help golf course operators manage their fleet of golf carts, turf equipment and utility vehicles. It offers TAG system vehicle control functionality and two golfer information display systems: the alphanumeric TEXT and high definition TOUCH. It operates in various regions, including Canada, United Kingdom and the United States.
