VIASPACE Inc. (OTCPK:VSPC) announced that it has entered into loan agreement for a private placement of senior convertible promissory notes with Carl Kukkonen, a director and Chief Technology Officer of the company, for gross proceeds of up to $11,500 on July 25, 2017. The note carries a fixed interest rate of 8% per annum. Each note would mature on the second anniversary of the issuance date of such note. The note converted into 41,218,638 shares of common stock at a conversion price of $0.000279 per common share. The notes would mature on July 25, 2018.