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| WBTO.OB > SEC Filings for WBTO.OB > Form 8-K on 21-Dec-2006 | All Recent SEC Filings |
21-Dec-2006
Material Modification to Rights of Security Holders, Other Events
On December 7, 2006, a debt holder entered into an Amended and Restated Debt Conversion Agreement with the company. Pursuant to this agreement, among other things, the interest rate on certain convertible debt was increased from 8% to 18% effective as of June 9, 2004.
On December 7, 2006, holders of 335,268 shares Series AA Preferred Stock converted all of their Series AA Preferred Stock and accumulated preferred dividends of $10,757 into 2,306,862 shares of the company's common stock. No Series AA Preferred Stock remains outstanding.
On December 7, 2006, holders of convertible debt converted principal and interest of $72,610.64 into 484,071 shares of the company's common stock.
Item 9.01
(c) Exhibits.
1) Amended and Restated Debt Conversion Agreement.
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