NEWTOWN LANE MARKETING, INCORPORATED (OTCMKTS:NTWN) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03
On December 4, 2018, Newtown Lane Marketing, Incorporated, a Delaware corporation (the “Company”), issued a convertible promissory note (the “December 2018 Note”) in the principal amount of $25,000 to Ironbound Partners Fund, LLC (“Ironbound”), an affiliate of the Company’s President. The December 2018 Note has a maturity date of August 31, 2019 and bears interest at the rate of 5.0% per annum, payable at maturity. The principal and accrued interest on the December 2018 Note is convertible, at the election of Ironbound, into shares of the Company’s common stock following the consummation of a “Qualified Financing” (as defined in the December 2018 Note), or upon the consummation of a “Fundamental Transaction” (as defined in the December 2018 Note) at the “Conversion Price” (as defined in the December 2018 Note). The proceeds of the December 2018 Note will be utilized by the Company to fund working capital needs.
The foregoing description of the December 2018 Note is qualified in its entirety by the full text of the December 2018 Note, which is filed as Exhibit 4.1 hereto and incorporated by reference herein.
| Item 9.01 | Financial Statement and Exhibits. |
(d)Exhibits:
| Exhibit | Description |
| 4.1 | Convertible Note, dated December 4, 2018. |
NEWTOWN LANE MARKETING INC ExhibitEX-4.1 2 s114507_ex4-1.htm EXHIBIT 4.1 Exhibit 4.1 THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,…To view the full exhibit click here
About NEWTOWN LANE MARKETING, INCORPORATED (OTCMKTS:NTWN)
Newtown Lane Marketing, Incorporated (Newtown) is a shell company. The Company’s main purpose is to serve as a vehicle to acquire an operating business. As of March 31, 2016, the Company had limited operations. As of March 31, 2016, the Company had no revenues. The Company does not own any operating business.