date:Apr 15, 2013
a chain of more than 1,300 frozen yogurt stores in Canada and 34 other countries. Crumbs would agree to sell the notes to a company controlled by the Serruya family and other accredited investors.
The holders of the notes would be entitled to convert the debt into shares of Crumbs common stock at any time at a conversion price of $2.50 per share.
The five-year notes carry an interest rate of 7% with an option for crumbs to pay interest in common stock shares in lieu of cash but at a rate of 10