Enterprises, Llc K4, a major owner of SPOTLIGHT INNOVATION, INC., recently acquired 5,619,955 shares of the company. The buys took place at $0.00 per share, on December 31, 2016. K4 now owns 11,655,307 shares of the company. K4 operates out of Urbandale, IA. Some additional info was provided as follows:

$2,500,000 principal amount convertible promissory note, bearing interest at a rate of eight percent per annum, was originally issued on December 31, 2015 and subsequently amended and restated pursuant to that certain Forbearance and Refinancing Agreement dated October 18, 2016 (the "Refinanced Noted"). The Refinanced Note is convertible based on a conversion price of $0.75, as described in the Refinanced Note. The Maturity Date as defined in the Refinanced Note is De cember 31, 2021. $830,000 principal amount convertible promissory note (the Note). The Note bears interest at the rate of six percent per annum, and is convertible into shares of common stock of the Company at a price equal to Seventy Percent (70%) of the average closing bid price of the common stock of the Company during the six months immediately prior to such conversion, ending on December 30, 2016. That six month average was $0.624 per share, and the conversion price (70%) was $0.437 per share, for a total of 1,897,896. $170,000 principal amount convertible promissory note (the "Note"). The Note bears interest at a rate of six percent per annum, and is convertible into shares of common stock of the Company at a price equal to Seventy Percent (70%) of the average closing bid price of the common stock of the Company during the six months immediately prior to such conversion, ending on December 30, 2016. That six month average was $0.624 per share, and the conversion price (70%) was $0.437 per share, for a total of 388,726 shares.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

SPOTLIGHT INNOVATION, INC. Just Filed Its Quarterly Report: Basic net income (lo... - Nov. 20, 2017
Notification of inability to timely file Form 10-Q or 10-QSB - Nov. 14, 2017

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