FuelStream, Inc. announced that it has received $0.17 million in funding from Asher Enterprises, Inc.
October 23, 2013 at 05:00 am
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FuelStream, Inc. (OTCPK:FLST) announced a private placement of convertible notes for gross proceeds of $174,000 with new investor Asher Enterprises, Inc. on July 19, 2013. The convettible notes carries a coupon of 8% per annum. The convertible notes are convertible into common stocks of the company.
On the same date, the company announced that it has received $78,500.
On August 26, 2013, the company announced that it has received $53,000.
On October 23, 2013, FuelStream, Inc. closed the transaction. The company has received $42,500 in third tranche for aggregate gross proceeds of $174,000. The first, second and third notes convertible on January 19, 2013, February 26, 2013 and April 23, 2014 respectively. The notes are redeemable by the company at 130% of the principal amount plus accrued interest until 180 days from the date of issuance.
Fuelstream, Inc. is an in-wing and on-location supplier and distributor of aviation fuel to corporate, commercial, military and privately owned aircraft throughout the world. The Company offers Aviation Fuel and Support Services. It also provides a range of ground services either directly or through its affiliates, including concierge services, passenger and baggage handling, landing rights, coordination with local aviation authorities, aircraft maintenance services, catering, cabin cleaning, customs approvals and third-party invoice reconciliation. The Fuel Stream transportation division specializes in the design, development and execution of fuel supply chain solutions. It offers engineered transportation solutions. From ocean going barges, tanker fleet operations and tank farms, it has access to equipment and provides solutions. It offers fuel management and logistic service for airlines originating out of South Africa and sub-African continent, and other global locations.
FUELSTREAM, INC. 
