Newtown Lane Marketing, Incorporated (OTCQB:NTWN) announced a private placement of one convertible promissory note with returning investor Ironbound Partners Fund LLC at $72,000 per note for gross proceeds of $72,000 on July 25, 2014. The note issued has a principal value of $72,000. The note will have an interest rate of 5% per annum and will mature on August 31, 2015. The conversion price shall be equal to per share price attributable to the company's common stock in a qualified financing, or if no qualified financing shall have been consummated, the per share price in the fundamental transaction as determined in good faith by the board of directors of the company.

On July 25, 2014, Newtown Lane Marketing, Incorporated closed the transaction.