REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA) Files An 8-K Entry into a Material Definitive Agreement
The information provided under Item 2.03 is responsive to the information required by this Item 1.01.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On March 2, 2017, we entered into a private placement subscription agreement, whereby we issued a convertible note (the “Note”) to Oceanside Strategies Inc. in the principal amount of $20,000 and agreed to pay interest on the balance of the principal amount at the rate of 18.0% per annum. The principal amount of the Note and the interest is payable in full on March 2, 2022.
The principal amount, plus any interest accrued thereon, may be converted into shares of common stock of our company at a conversion price of $0.03 per share.
Item 3.02 Unregistered Sales of Equity Securities.
On March 2, 2017, we issued the Note to one non-U.S. person (as that term is defined in Regulation S of the Securities Act of 1933, as amended) in an offshore transaction in which we relied on the exemptions from the registration requirements provided for in Regulation S and/or Section 4(a)(2) of the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1 Private Placement Subscription Agreement with Oceanside Strategies Inc. dated March 2, 2017
10.2 18% Unsecured Convertible Note with Oceanside Strategies Inc. dated March 2, 2017
About REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA)
RedStone Literary Agents Inc. is a shell company. The Company was engaged in the business of representing authors to publishers. The Company is involved in seeking new business opportunities with business entities to effect a merger or other form of business combination with it. In implementing a structure for a particular business acquisition or opportunity, the Company may become a party to a merger, consolidation, reorganization, joint venture or other business combination with another corporation or entity. The Company may also acquire stock or assets of an existing business. The Company does not have a source of revenue. REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA) Recent Trading Information
REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA) closed its last trading session at 0.0000 with shares trading hands.
RedStone Literary Agents Inc. is a shell company. The Company was engaged in the business of representing authors to publishers. The Company is involved in seeking new business opportunities with business entities to effect a merger or other form of business combination with it. In implementing a structure for a particular business acquisition or opportunity, the Company may become a party to a merger, consolidation, reorganization, joint venture or other business combination with another corporation or entity. The Company may also acquire stock or assets of an existing business. The Company does not have a source of revenue. REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA) Recent Trading Information
REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA) closed its last trading session at 0.0000 with shares trading hands.