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LOTE > SEC Filings for LOTE > Form 8-K on 11-Sep-2013All Recent SEC Filings

Show all filings for LOT78, INC.

Form 8-K for LOT78, INC.


Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation

Item 1.01 Entry into Material Definitive Agreement.

On September 9, 2013, Lot78, Inc. (the "Company") entered into an Unsecured Senior Convertible Promissory Note (the "Note") with Monument Assets & Resources Company Ltd ("Monument Assets") for the principal sum of One Hundred Thousand Dollars ($100,000) plus simple interest thereon form the date of the Note until fully paid at the rate of ten percent (10%) per annum.

The Note has interest payments due and payable semi-annually, with the total principal and unpaid interest due on September 1, 2016 (the "Maturity Date"), unless the Note is converted into shares of capital stock of the Company prior to the Maturity Date in accordance with the terms and conditions set forth therein.

The preceding description of the Note is a brief summary of its terms and does not purport to be complete, and is qualified in its entirety by reference to the Note, a copy of which is being filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 of this report on Form 8-K is hereby incorporated in Item 2.03 by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibit is filed herewith:

Exhibit No. Description
10.1        Unsecured Senior Convertible Promissory Note, effective September 9,
            2013, by and between Lot78, Inc. and Monument Assets & Resources
            Company Ltd

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