Wisdom Homes of America, Inc. (OTCPK:WOFA) announced that it has entered into a securities purchase agreement for a private placement of a 12% convertible promissory note with accredited and sophisticated existing investor, Carebourn Capital, L.P. for gross proceeds of $36,000 on November 20, 2015. The note carries a fixed coupon of 12% per annum and would mature on August 20, 2016. The company will pay the expenses of $6,000.

The note is convertible after 90 days into our common stock at 42% discount from the average of the three lowest trading prices of our common stock, as reported by any exchange upon which our common stock is then traded, for the 20 trading days prior to our receipt of notice from the note holder to exercise this conversion feature. The company will issue securities pursuant to exemption provided under Regulation D.