FluoroPharma Medical, Inc. (OTCMKTS:FPMI) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03
an Off-Balance Sheet Arrangement of a Registrant.
borrowed $50,000 in the form of a promissory note (the Note). The
Note matures on January 31, 2017 and bears interest at the rate
of 10% per annum if the Note is repaid on or prior to the
maturity date and 15% if the Note is not repaid by the maturity
date. The Note contains the following event of default
provisions:
the Note within ten (10) days after such amounts are due;
condition of the Note, except for a breach of payment, in any
material respect and such breach, if subject to cure,
continues for a period of twenty (20) days after written
notice to the Company from the Lender;
a Subsidiary of a substantial portion of their business;
entered or made in a non-appealable adjudication against the
Company or any Subsidiary or any of its property or other
assets for more than $250,000 in excess of the Companys
insurance coverage, unless stayed vacated or satisfied within
60 days;
bankruptcy, reorganization, insolvency or moratorium law or
any other law for the relief of, or relating to, debtors, now
or hereafter in effect, or makes any assignment for the
benefit of creditors or takes any corporate action in
furtherance of any of the foregoing; and
any bankruptcy statute now or hereafter in effect, and such
petition is not dismissed or discharged within 60 days, or a
custodian, receiver, trustee, assignee for the benefit of
creditors (or other similar official) is appointed to take
possession, custody or control of any property of the
Company.
entirety by reference to the complete text of the form of the
form of Note filed as Exhibit 4.1 hereto.
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(Thijs) Spoor agreed to resign as directors. The resignations of
Dr. Conti and Mr. Spoor are not due to any disagreements on any
matter relating to the Companys operations, policies and
practices.
|
Exhibit No.
|
Description
|
|
|
4.1
|
Form of Note.
|
About FluoroPharma Medical, Inc. (OTCMKTS:FPMI)
FluoroPharma Medical, Inc., formerly Commercial E-Waste Management Inc., is a biopharmaceutical company specializing in discovering, developing and commercializing molecular imaging pharmaceuticals with applications in the area of cardiology. The Company operates through biopharmaceutical research and development segment. It is focused on the development of cardiovascular imaging agents that can detect and assess acute and chronic forms of coronary artery disease (CAD). It has two clinical-stage molecular imaging pharmaceutical product candidates: Flourine-18 (18-F) TPP (BFPET), which includes a ((18F)-labeled cationic lipophilic tetraphenylphosphonium ion (18-F TPP) as an imaging agent designed for use in stress-testing for patients with presumptive or proven CAD, and 18-F FCPHA (CardioPET), which includes Trans-9-(18F)-Fluoro-3, 4-Methyleneheptadecanoic Acid (18-F FCPHA) as a molecular imaging agent designed to assess myocardial blood flow and metabolism in patients with CAD. FluoroPharma Medical, Inc. (OTCMKTS:FPMI) Recent Trading Information
FluoroPharma Medical, Inc. (OTCMKTS:FPMI) closed its last trading session 00.000 at 0.140 with shares trading hands.
