Peer to Peer Network (OTCPK:PFNI) announced a private placement of a convertible note having a principal amount of $150,000 to be issued at a 10% discount for gross proceeds of $135,000 on July 29, 2015. The transaction included participation from JMJ Financial. If the note is repaid in full within 90 days of issuance there is 0% interest, if it s not, then a one-time 12% interest charge is applied to the principal.

The note will mature one year from the closing. The note is convertible into common stock at a price equal to the lower of $0.002 or 60% of the lowest trading price during the 25 trading days prior to the date of conversion.