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Share Name | Share Symbol | Market | Type |
---|---|---|---|
American Scientific Resources Inc (CE) | USOTC:ASFX | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0001 | 0.00 | 01:00:00 |
Nevada
|
333-171789
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14-1820954
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(State of Incorporation)
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(Commission
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(IRS Employer
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File Number)
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Identification #)
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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¨
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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·
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The maturity date of the promissory note, dated June 24, 2010, issued by the Company to Lanktree (the “June 2010 Note”), was extended to December 24, 2011.
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·
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The rate at which interest on the June 2010 Note will accrue was reduced from 12% to 9% per annum.
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·
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The Company agreed to issue to Lanktree 25,000 shares of common stock (as adjusted for the Company
’
s 200-to-1 reverse stock split).
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·
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The maturity date of the promissory note, dated September 28, 2007, issued by the Company to Lanktree (the “September 2007 Note”), was extended to June 30, 2011.
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·
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The parties agreed that the outstanding balance on the September 2007 Note as of the effective date of the September 2007 Note Extension Agreement is equal to $380,000.
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·
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Interest will accrue on the September 2007 Note in an amount equal to $3,800 per month (assuming the entire balance of $380,000 is outstanding for such month).
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·
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The Company agreed to issue to Lanktree an additional 110,000 shares of common stock
(as adjusted for the Company’s 200-to-1 reverse stock split).
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Exhibit
Number
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Description
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3.1
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Certificate of Amendment to Articles of Incorporation, effective March 21, 2011
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10.1
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Securities Purchase Agreement, dated March 24, 2011, between the Company and Schreiber
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10.2
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Common Stock Warrant, dated March 24, 2011, issued by the Company to Schreiber
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10.3
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Promissory Note Extension Agreement, effective as of December 24, 2010, between the Company and Lanktree
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10.4
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Promissory Note Extension Agreement, effective as of January 1, 2011, between the Company and Lanktree
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10.5
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Promissory Note, dated February 25, 2011, issued to Lanktree
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AMERICAN SCIENTIFIC RESOURCES, INCORPORATED
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By
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/S/ Christopher F. Tirotta
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Christopher F. Tirotta, Chief Executive Officer
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Date: March 29, 2011
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1 Year American Scientific Reso... (CE) Chart |
1 Month American Scientific Reso... (CE) Chart |
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