StreamTrack, Inc. (OTCPK:STTK) announced a private placement of 10% convertible debentures for gross proceeds of $125,000 on April 17, 2014. The company issued debentures to Redwood Fund III, Ltd. and Redwood Management, LLC. The debentures will mature on October 18, 2014 and bear interest at the rate of 10% per year, payable upon maturity. The debentures are convertible into shares of the company at a conversion price equal to 45% of the lowest traded price, for 15 trading days prior to conversion. The company may prepay any portion of the principal amount under the debentures at 130% of such amount upon seven days written notice.

On April 17, 2014, StreamTrack, Inc. closed the transaction.