Schedule of 12% Secured Convertible Notes Issued by NCT Group, Inc. to Carole Salkind (April 2006)

Contract Categories: Business Finance › Note Agreements
Summary

NCT Group, Inc. issued a 12% secured convertible note to Carole Salkind on April 21, 2006, with a principal amount of $649,392. The note is due on October 21, 2006, and can be converted into NCT's common stock. The conversion price will be the higher of the lowest last sale price of the stock during a specified five-day period or the par value of the stock at the time of conversion. This agreement outlines the terms for this specific note issuance.

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EX-10.5(B) 6 exh_10-5b.txt SCHEDULE OF 12% SECURED CONVERTIBLE NOTES Exhibit 10.5(b) Schedule of 12% Secured Convertible Notes issued by NCT Group, Inc. to Carole Salkind during the three months ended June 30, 2006 Conversion Issue Date Due Date Principal Price (a) ---------- -------- ------------- --------- 04/21/06 10/21/06 $ 649,392 $ 0.0100 ------------- $ 649,392 ============= (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 of the note; the preceding date and three dates following; or (ii) the par value of NCT's common stock on the date the conversion notice is delivered to NCT.