Schedule of Secured Convertible Notes (Demand) Issued by NCT Group, Inc. to Carole Salkind
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Summary
NCT Group, Inc. issued a series of secured convertible notes totaling $3,500,000 to Carole Salkind between April and June 2006. Each note is payable on demand or by its specified due date, whichever comes first. The notes can be converted into NCT common stock at a price determined by the greater of the lowest sale price during a specified five-day window or the stock's par value at the time of conversion notice. This schedule lists the issue dates, due dates, principal amounts, and conversion terms for each note.
EX-10.1(B) 2 exh_10-1b.txt SCHEDULE OF SECURED CONVERTIBLE NOTES Exhibit 10.1(b) Schedule of Secured Convertible Notes (demand) issued by NCT Group, Inc. to Carole Salkind during the three months ended June 30, 2006 Conversion Issue Date Due Date (a) Principal Price (b) ---------- ----------- ------------ ----------- 04/07/06 10/07/06 $ 750,000 $0.0100 04/21/06 10/21/06 550,000 $0.0100 05/10/06 11/10/06 550,000 $0.0100 05/25/06 11/25/06 550,000 $0.0100 06/09/06 12/09/06 550,000 $0.0100 06/23/06 12/23/06 550,000 $0.0100 ---------------- $ 3,500,000 ================ (a) Note is payable upon the earlier of demand or the due date indicated above. (b) 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 of the 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.
