Schedule of Secured Convertible Notes Issued by NCT Group, Inc. to Carole Salkind (November–December 2005)
Contract Categories:
Business Finance
›
Note Agreements
Summary
NCT Group, Inc. issued two secured convertible notes to Carole Salkind on November 15, 2005, and December 7, 2005, totaling $600,000 in principal. Each note is due six months after its issue date. The notes can be converted into NCT common stock at a price that is the higher of either the lowest sale price during a specified five-day period or the stock's par value at the time of conversion. This schedule lists the details and terms of these outstanding notes as of December 7, 2005.
EX-10.14(B) 7 exh-10_14b.txt SCHEDULE OF SECURED CONVERTIBLE NOTES Exhibit 10.14(b) Schedule of Secured Convertible Notes (new financings on November 15, 2005 and December 7, 2005) issued by NCT Group, Inc. to Carole Salkind and outstanding as of December 7, 2005 Conversion Issue Date Due Date Principal Price (a) ---------- -------- --------- --------- 11/15/05 05/15/06 $ 300,000 $0.0100 12/07/05 06/07/06 300,000 $0.0100 ----------------- $600,000 ================= (a) Note conversion price will be the greater of: (i) the lowest last sale price of NCT's common stock during the five-day period comprised of the date ofhe note, date preceding and three dates following; or (ii) the par value of NCT's common stock on the date the conversion notice is delivered to NCT.
