Schedule of Debt for Team Communications Group, Inc. as of August 31, 2001
Summary
This document lists the outstanding debts of Team Communications Group, Inc. as of August 31, 2001, including principal balances, interest rates, due dates, collateral, and delinquency status for each lender. It details loans and lines of credit from various financial institutions and individuals, convertible notes, and related warrants. The schedule also explains the terms for converting notes into company stock and the issuance of warrants, as well as the rights under an equity line of credit. The document is informational and does not impose new obligations.
EX-10.3 5 v76540ex10-3.txt TEAM COMMUNICATIONS EXHIBIT 10.3 Exhibit 10.3 TEAM COMMUNICATIONS GROUP, INC. SCHEDULE B -------------------------------------------------------------------------------- SCHEDULE OF DEBT as of 31-Aug-01
Notes: ---------- (1) - The convertible notes are convertible into common stock of the Company at 80% of the average market price of the shares. At the current market price of 21(cent), the $1,045,000 would be convertible into approximately 6.22 million shares (approximately 43% of shares outstanding). - Unamortized debt costs includes $100,000 of estimated Greenberg Traurig fees that were withheld from financing proceeds. - Warrants were issued in two tranches. Initial Tranche at issuance of the convertible notes exercisable at $1.56 per share 1,314,664 Issued Aug 20, 2001 in conjuncion with receipt of consent to raise additional financing 1,261,750 In addition, the exercise price for all warrants was reduced by MJS to 50(cent) per share. (2) - The REFCO Equity Line of Credit provides the Company with the right to sell it's common stock at 85% of the prevailing average market price of the shares. Warrants were exercisable at $1.56 when issued. The exercise price was reduced by MJS to 50(cent) per share.