United American Healthcare Corp. (OTCPK:UAHC) announced a private placement of 10% secured promissory note with existing lender and accredited investor St George Investments LLC for gross proceeds of $370,000 on August 14, 2012. The note will mature on December 31, 2014 or on the sale of all or substantially all of the assets of the company or Pulse Systems, LLC or the merger of the company or Pulse Systems, LLC or the sale of all or substantially all of the equity of the company or Pulse Systems, LLC. In the events of default as per the agreement, the note is convertible to common shares at a price of $0.010277667 per share. Note is transferable and assignable by the holder. The promissory note accrues simple interest on the unpaid amount thereof at 10%, computed on the basis of a 365-day year. The company will pay on demand all reasonable fees and expenses, including reasonable attorneys' fees and expenses, incurred by secured party in connection. Jon Hansen of Hansen Black Anderson PLLC will serve as legal advisor to the investor.

On August 14, 2012, United American Healthcare Corp. closed the transaction.