REALBIZ MEDIA GROUP, INC. (OTCMKTS:RBIZ) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On April 19, 2017 RealBiz Media Group, Inc. (the Company) issued
JSJ Investments Inc. (JSJ) a convertible note in the principal
amount of $125,000 (the Note). The Note accrues interest at a
rate of 8% per annum and matures on January 19, 2018. JSJ may
convert the Note into shares of the Companys common stock at a
price equal to 61% of the lowest trading price during the 20
trading day period ending on the last complete trading date prior
to the date of conversion. JSJ may not convert the Note to the
extent that such conversion would result in JSJs beneficial
ownership being in excess of 4.99% of the Companys issued and
outstanding common stock (the Beneficial Ownership Limit);
provided, however, JSJ may, on not less than 61 days
prior notice to the Company, waive the Beneficial Ownership
Limit. to the terms of the Note, the Company may prepay the
principal amount of the Note together with interest accrued
thereon at any time on or prior to October 16, 2017. The
prepayment amount is dependent on when the Company prepays the
Note.
The Note has not been registered under the Securities Act of
1933, as amended (the Securities Act), or the securities laws of
any state, and was offered and issued in reliance on the
exemption from registration under the Securities Act, afforded by
Section 4(a)(2).
The foregoing description of the Note is not complete and is
qualified in its entirety by reference to the full text of the
form of Note, a copy of which is filed as Exhibit 10.1 to this
report and is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.
Reference is made to the disclosure set forth under Item 1.01 of
this Current Report on Form 8-K, which disclosure is incorporated
herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| 10.1 | Form of Convertible Promissory Note |
About REALBIZ MEDIA GROUP, INC. (OTCMKTS:RBIZ)
RealBiz Media Group, Inc. is a real estate digital media and technology company. The Company is engaged in the business of providing digital media and marketing services for the real estate industry. It operates in real estate, primarily through Web-assisted services segment. The Company, through its HomeTourNetwork operation provides a television video-on-demand network, a MicroVideo App network and an existing Virtual Tour network. It provides video search, storage and marketing capabilities on multiple platform dynamics for Web, mobile and television. It offers products and services, including enterprise video production, Nestbuilder Agent 2.0, The Virtual Tour (VT) and Microvideo App (MVA), ReachFactor, NestBuilder Website Portal, Nestbuilder Agent and Ezflix Mobile App. It offers services to franchisor accounts in the North America real estate market for compiling listings into a video format and distributing to franchisor’s Websites, brokers and agents, and platforms. REALBIZ MEDIA GROUP, INC. (OTCMKTS:RBIZ) Recent Trading Information
REALBIZ MEDIA GROUP, INC. (OTCMKTS:RBIZ) closed its last trading session 00.0000 at 0.0220 with 116,800 shares trading hands.
