Convertible Debentures - Proposed coupon: 10%, payable quarterly
- Put option: Issuer must redeem $333,333 in years 3, 4, and 5
- Conversion feature: Convertible into 1,000,000 shares within 3 years
Use of Proceeds - Repayment of current indebtedness ($600,000)
- Purchase of Fashing Field ($400,000)
