MakingORG, Inc. announced that it has received $0.2 million in funding
September 31, 2016
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MakingORG, Inc. announced that it has entered into a material definitive agreement for a private placement of a convertible promissory note with Junhan Xie for gross proceeds of $200,000 on September 1, 2016. The note was issued at par. The note will mature on September 1, 2018 and will bear interest at a rate of 12% per annum commencing of September 1, 2016 and shall be payable in installments of $12,000 in cash or common shares at the rate of $3.50 per share, commencing March 1, 2017 and every six months thereafter until the note is paid in full. The note will be convertible at a rate of one share for each $3.50 of principal and/or interest converted. The number of shares issuable upon conversion is subject to adjustment in the case of a subdivision, combination or reclassification of the company’s stock or the payment of a dividend or the making of a distribution of its stock by the company. The company has the right to prepay the note at any time without a premium or penalty.
MakingORG, Inc. is engaged in selling Acer truncatum bunge related health product in the United States and Peopleâs Republic of China (PRC). The Company and its subsidiaries are principally focused on purchasing Acer truncatum bunge seed oil from China. The Company outsources to third parties to manufacture Acer truncatum bunge related health product, such as nervonic acid oil, coffee and tea, and it sells these products to end users and distributors. The Companyâs wholly owned subsidiaries include HK Feng Wang Group Limited (HKFW) and Chongqing Beauty Kenner Biotechnology Co., Ltd (CBKB).