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| ATCS.PK > SEC Filings for ATCS.PK > Form 8-K on 12-Jan-2009 | All Recent SEC Filings |
12-Jan-2009
Entry into a Material Definitive Agreement, Creation of a Direct Financial
On January 8, 2009, Apogee Technology, Inc. ("Apogee") received $100,000 in proceeds from the sale of a promissory note. TYJO Corporation Money Purchase Pension Plan loaned the company $100,000 pursuant to the promissory note attached hereto. The promissory notes bear simple interest of 8% per year and are to be repaid in cash after 180 days.
The promissory note is attached hereto as Exhibit 99.1, and is incorporated herein by reference.
The information required by this Item 2.03 is set forth in Item 1.01 above, which is incorporated herein by reference.
Associated with the promissory notes discussed above is a warrant. The warrant is a three (3) year warrant with a strike price of $1. The warrant represents 25,000 shares of common stock, for TYJO Corporation Money Purchase Pension Plan, respectively, as added consideration for the Note. This warrant, and the warrants previously issued to TYJO Corporation Money Purchase Pension Plan pursuant to earlier promissory notes, have been documented using the form of warrant, Exhibit 99.2, attached.
(d) Exhibits
Exhibit
Number Description
99.1 Promissory Note dated as of January 8, 2009 by and between Apogee
Technology, Inc. and TYJO Corporation Money Purchase Pension Plan
99.2 Form of Warrant
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