eFleets Corporation (OTCPK:EFLT) eFleets Corporation announced a private placement of an unsecured convertible promissory note with an existing investor Koukis Holdings SA for gross proceeds of $65,000 on October 10, 2014. The principal amount of the note is CHF 61,581 ($64,679.8). The note carries an interest rate of 8% per annum and will mature in one year from date of issuance. At the election of the holder, the note may be converted into common stock of the company at a conversion price equal to $1 per share, subject to customary adjustments in the event of reclassification of the company. The company will also issue warrants to purchase 65,000 shares of at an exercise price of $1.20 per share for a period of five years after their initial issuance date on October 27, 2019. The company issued securities pursuant to exemption provided under Regulation D. The conversion was made through www.oanda.com on October 27, 2014.

On October 27, 2014, eFleets Corporation closed the transaction.