000-54254
(Commission File No.)
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27-3051592
(IRS Employer Identification No.)
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o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))
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o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))
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Item 3.02
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Unregistered Sales of Equity Securities
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(a)
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On December 11, 2013, the Company issued 23,735,294 shares of its Class A Common stock at an applicable conversion price of $0.00068. Asher Enterprises converted $13,500 of its note convertible together with $2,640 of accrued and unpaid interest on its noted dated February 11, 2013. The agreement with Asher allows them to convert their debt after six (6) months at a conversion price equal to 55% of the average of the three (3) lowest closing bid prices ten (10) trading days prior to the conversion date. This draw is against the note dated February 11, 2013 in the amount of $78,500. There is $500 remaining on the note in unpaid and accrued interest.
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(b)
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On December 12, 2013, the Company issued 15,000,000 shares of its Class A Common stock at an applicable conversion price of $0.0005. SC Capital converted $7,500 of its note convertible dated February 12, 2013. There is $0 remaining on the note.
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The Graystone Company, Inc.
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Dated: December 13, 2013
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By:
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/s/ Joseph Wade
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Name: Joseph Wade
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Title: CFO
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