Soupman, Inc. (OTCPK:SOUP) announced that it has entered into an additional issuance agreement with returning investor, Hillair Capital Management LLC for a private placement of 8% original issue discount senior secured convertible debenture due April 21, 2017 for gross proceeds of $115,000 on February 21, 2017. The notes will hold a principal value of $120,750 and have been issued at an original discount of $5,750. The debenture will carry a fixed coupon of 8% per annum and would mature April 21, 2017. The debentures are convertible into common stock of the company at a fixed conversion price of $0.02 per share. The company will issue the securities pursuant to exemption provided under Regulation D. The company will pay $15,000 for legal fees and expenses of the investor.