PetLife Pharmaceuticals, Inc. (OTCMKTS:PTLF) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On January 5, 2017, PetLife Pharmaceuticals, Inc. (“PetLife”) issued a convertible promissory note for $135,000 to EMA Financial, LLC (the “Note”). The Note bears interest at 12%, matures on January 5, 2019, and has a conversion feature equaling the lower of the closing sale price of the common stock on the principal market on the trading day immediately preceding the closing date or 60% of either the lowest sale or closing bid price (whichever is lower) for the common stock on the principal market during the fifteen consecutive trading days including and immediately preceding the conversion date.
About PetLife Pharmaceuticals, Inc. (OTCMKTS:PTLF)
PetLife Pharmaceuticals, Inc., formerly Clear TV Ventures, Inc., is engaged in the development and launching of a high potency (HP) veterinary cancer medications and nutraceuticals, based on the formula Escozine. The Company’s formula, Escozine (for humans) is sold as either a nutraceutical or prescription drug in approximately 40 countries, including the United States. It has rights to formulate, package and market a product line, Escozine for Pets, for livestock suffering from cancer. Escozine for Pets is a natural product containing serum derived from the Caribbean Blue Scorpion and polarized using the Company’s polarization technology. It intends to target various veterinary cancers, including Lymphoma, Osteosarcoma, Mast Cell Tumor, Melanoma, Squamous Cell Carcinoma, Mammary Carcinoma, Transitional Cell Carcinoma and Soft Tissue Sarcoma. It has designed three products for differentiated intake protocols for home and veterinary usage: Oral/Rectal, Patch and Injectable.