The Amacore Group, Inc. (OTCBB:ACGI) announced a private placement of 15% senior secured convertible notes for gross proceeds of up to $5,000,000 with returning investor Vicis Capital Master Fund a fund managed by Vicis Capital, LLC on August 16, 2010. The notes will mature on June 30, 2011 and bear interest at a rate of 15% per annum. Upon the occurrence of an event of default, the interest rate will be 18% per annum. The notes are convertible into class A common shares at an initial conversion price equal to $0.005 per share. In the event any payment of principal or interest or both is unpaid for a period of 10 days or more after the due date, a one-time late charge equivalent to 6% of each unpaid amount will be paid by the company. Darrin M. Ocasio, of Sichenzia Ross Friedman Ference LLP will serve as the legal advisor to the company and Andrew D. Ketter of Quarles & Brady LLP will serve as the legal advisor to the investor. On the same date, The Amacore Group, Inc. raised gross proceeds of $2,500,000 in the transaction. The company is required to deposit the remaining gross proceeds $2,500,000 into an escrow account within five days of the initial closing. Upon the disbursement of funds from escrow, the company shall issue notes in the principal amount of the jointly approved escrow disbursement. On September 22, 2010, the company raised $650,000 in 15% senior secured convertible notes. On November 5, 2010, the company raised $625,000 in 15% senior secured convertible notes. On February 1, 2011, the company raised $825,000 in 15% senior secured convertible notes. On April 18, 2011, the company raised $400,000 in 15% senior secured convertible notes. On June 2, 2011, the company amended the transaction and announced that it will issue 15% senior secured convertible notes for gross proceeds of up to $2,500,000. The notes will mature on June 30, 2012. On June 7, 2011, the company announced that investor has invested in the principal amount of $475,000 to purchase the notes due on June 30, 2012. On June 24, 2011, the company issued additional notes for $500,000, maturing on June 30, 2012. On July 19, 2011, the company issued additional notes for $500,000, maturing on June 30, 2012. On October 13, 2011, the company issued additional notes for $500,000, maturing on June 30, 2012. On November 11, 2011, the company issued additional notes for $525,000, maturing on June 30, 2012. On February 9, 2012, the company amended the transaction. The company agreed to issue to the investor 15% senior secured convertible notes for proceeds of $1,500,000 due on June 30, 2012. The notes will be issued on the same terms. On the same day, the company issued additional notes for $500,000. On February 27, 2012, the company issued additional notes for $500,000, maturing on June 30, 2012. On March 22, 2012, The Amacore Group, Inc. closed the transaction. The company issued additional notes for $500,000, maturing on June 30, 2012. The company has received total funding of $9,000,000 in the transaction.