Green Ballast, Inc. (OTCBB:GBLL) announced a private placement of a secured promissory note for gross proceeds of $181,500 on October 4, 2013. The note will carry a principal amount of $208,725 and is issued at a discount of $27,225. The company issued the note to JDK Remainder Trust. The principal amount due under the note is due on March 1, 2014 or such later date as may be agreed upon by the company and the Holder. No interest payments are required to be made prior to the maturity date, and the note may not be prepaid without the holder's consent.

On October 4, 2013, Green Ballast, Inc. closed the transaction.