Subordinated Convertible Debenture NoteSubordinated Convertible Debenture Note • December 13th, 2007 • Florida
Neptune Industries, Inc. a corporation organized and existing under the laws of the State of Florida, ("Corporation"), for value received, hereby promises to pay to the party executing the Subscription Agreement executed in conjunction with this Note or his registered assigns, (the "Holder") the principal amount of $ ,000.00 Dollars on the first day of the twenty-fifth month after the Date of Issue, if not previously paid or satisfied as provided herein, upon presentation and surrender of this Debenture Note (the “Note”) at the home office of the Corporation, in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts, and to pay interest thereon from the Date of Issue at the rate specified in Section 1 below, either in kind as provided in Section 1 below or in like coin and currency, until payment of the full principal amount has been made or duly provided for.
Subordinated Convertible Debenture Note INTEREST RATE - 24% per annum PRINCIPAL AMOUNT: $ ______________ (minimum $50,000.00) DATE OF ISSUE: , 2006 MATURITY DATE: , 2008 Neptune Industries, Inc. a corporation organized and existing under the laws of...Subordinated Convertible Debenture Note • December 13th, 2007 • Neptune Industries, Inc. • Agricultural prod-livestock & animal specialties • Florida
