Free
Message: News is out

News is out

posted on Nov 08, 2005 12:08PM

Other Events

ITEM 8.01. Other Events.

e. Digital Corporation has entered into amendments with the holders of the companys 12% Subordinated Promissory Notes (12% Notes) to (i) extend the maturity date under the 12% Notes from December 31, 2005 to December 31, 2006,

(ii) authorize an additional $500,000 in principal amount of 12% Notes (the Additional Notes), (iii) pay the purchasers of the Additional Notes (in the aggregate) a royalty as consideration for the additional financing necessary for the development of the companys new MedeViewer product equal to up to Twenty Dollars ($20.00) for each MedeViewer sold for a period of three years (the Royalty) and (iv) change the terms of conversion.

The full text of each amended agreement is attached hereto as Exhibit 4.50.1 and Exhibit 4.51.2, respectively.

Share
New Message
Please login to post a reply