Wisdom Homes of America, Inc. (OTCPK:WOFA) announced that it has entered into securities purchase agreement for private placement of a 10% convertible promissory note at $25,000 for gross proceeds of $25,000 on May 22, 2015. The transaction included participation from accredited and sophisticated returning investor, Carebourn Capital, L.P. The note bears fixed interest rate of 10% per annum. The note will mature on February 22, 2016 and is convertible after 180 days into common stock at a 42% discount from the average of the three lowest trading prices of its common stock, as reported by any exchange upon which common stock is then traded, for the ten trading days prior to its receipt of notice from the note holder to exercise this conversion feature.

The conversion price shall be subject to a minimum conversion price of $0.0001 per share. The note can be prepaid at a premium between 0 and 30 days after issuance at 115% of the principal amount; between 31 and 60 days after issuance at120% of the principal amount; between 61 and 90 days after issuance at 125% of the principal amount; between 91 and 120 days after issuance at 130% of the principal amount; between 121 and 150 days after issuance at 135% of the principal amount; and between 151 and 180 days after issuance at 140% of the principal amount. There is no right to prepay the note after 180 days. The company issued securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $25,000.