High Performance Beverages Company (OTCPK:TBEV) announced a private placement of a 12% convertible promissory note for gross proceeds of $40,227 on August 16, 2016. The note has a par value of $50,000 and was issued at a discount of 19.546% of the par value. The note bears a fixed interest rate of 12% and will mature on August 16, 2017. The note can be pre-paid for up to 180 days at 100% during a period under 30 days, at 110% during a period between 31st day till 60th day, at 120% during a period between 61st day and 90th day, at 130% during a period between 91st day till 120th day, at 140% during a period between 121st day till 150th day, and at 150% during a period between 151st day till 180th day. The note may not be prepaid after 180 days without written consent from the investor. The note may be converted into common stock of the company at any time after the maturity date at a price equal to 60% of the lowest trading price of the company’s common stock during the 10 consecutive trading days prior to the date of conversion. The transaction included participation from an accredited investor, Iconic Holdings, LLC. The company will pay all reasonable charges and expenses, including attorneys' fees and expenses.