chatAND, Inc. (OTCBB:CHAA) announced a private placement of a 10% convertible promissory note for gross proceeds of $15,000 on July 5, 2016. The transaction included participation from David Stefansky who is an accredited investor. The note carries a fixed coupon of 10% per annum and would mature on July 5, 2017. The note is convertible into common shares of the company at a fixed conversion price of $0.01 per share. The company also issued warrants to purchase 750,000 common shares at an exercise price of $0.02 per share and would mature on July 5, 2021.