J. SUBSEQUENT EVENTS
On July 15, 2015, the Short Term Note between the Company and EssigPR was amended to extend the due date by three months from July 10, 2015 to October 10, 2015. The Company awarded EssigPR 2,500 fully vested stock options to purchase common shares with an exercise price of $1.00 per share and a ten year life. Such options were fully vested upon execution of the amendment.
On August 3, 2015, the Company borrowed an additional $200,000 increasing the Short Term Note from $300,000 to $500,000.
The Company has evaluated all events and transactions that occurred after the balance sheet and through the date that the financial statements were available to be issued.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
To receive a free e-mail notification whenever SOFTECH INC makes a similar move, sign up!
Other recent filings from the company include the following:
Notification of inability to timely file Form 10-Q or 10-QSB - Oct. 16, 2017