IDdriven, Inc. (OTCPK:IDDR) announced that it has entered into a securities purchase agreement for a private placement of a 10% convertible note for gross proceeds of $160,000 with new investor, EMA Financial LLC on March 27, 2017. The note bears an interest of 10% per annum and would mature on March 27, 2018. Any amount of principal or interest on this note which is not paid due shall bear interest at the rate of 24% per annum. The principal amount of the note and interest are payable on the maturity date. The note is convertible into common shares of the company at a conversion price of $0.04 per share. If the company fails to pay then the conversion price shall equal the lower of the closing sale price of common stock on the principal market on the trading day immediately preceding the closing date and 60% of either the lowest sale price for the common stock on the principal market during the 20 consecutive trading days immediately preceding the conversion date or the closing bid price. The note is issued having a principal amount of $168,500 to be issued at a 5.04451% discount. The company issued the securities pursuant to exemption provided under Regulation D. The company shall redeem the outstanding amount on the notes in full at any time during the period beginning on the issue date and ending on the date which is 180 days following the issue date. The company shall reimburse the buyer non-refundable, non-accountable legal fees, disbursements, due diligence, and administrative expenses incurred by it, amounting to $10,000.