REDSTONE LITERARY AGENTS, INC. (OTCMKTS:RDLA) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 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 December 30, 2016, 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
$50,000 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
December 30, 2021.
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 December 30, 2016, 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.
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10.1 |
Private Placement Subscription Agreement with Oceanside Strategies Inc. dated December 30, 2016 |
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10.2 |
18% Unsecured Convertible Note with Oceanside Strategies Inc. dated December 30, 2016 |
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.