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EX-99.1 - FORM TERM SHEET - Nano Magic Holdings Inc. | appliednano_8k-ex9901.htm |
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UNITED
STATES
SECURITIESANDEXCHANGECOMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported)
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February
19, 2010
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APPLIED
NANOTECH HOLDIINGS, INC.
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(Exact
name of registrant as specified in its
charter)
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TEXAS
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1-11602
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76-0273345
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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3006
Longhorn Boulevard, Suite 107, Austin, Texas
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78758
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(Address
of principal executive offices)
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(Zip
Code)
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(512)
339 - 5020
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Registrant’s
telephone number, including area
code
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(Former
name or former address, if changed since last
report.)
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a
-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d -2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e -4(c))
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Item
2.03 Creation of a Direct Financial Obligation or an Obligation under
an Off-Balance Sheet Arrangement of a Registrant.
The
Company is raising approximately $2.0 million using convertible notes payable.
These are 30 month notes bearing interest at a rate of 8% per annum and
convertible at a fixed price of $0.20 per share. As of
February 19, 2010, approximately $1.0 million has been received, and we are
finalizing commitments for the remaining $1.0 million.
The
Company has posted a shareholder letter regarding this on its website at www.appliednanotech.net
in the Investor Information section.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits:
99.1 Form
of term sheet
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Applied
Nanotech Holdings, Inc.
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By:
/s/ Douglas P.
Baker
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Date:
February 22, 2010
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Douglas
P. Baker
Chief
Executive Officer
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