Elephant Talk issues €2M 10% convertible note

Elephant Talk (ETAK) issues a €2M 10% convertible note due July 2014 to a private investor. The conversion price of the warrants is $0.887/share with a 5 year term. (8-K)

Elephant Talk had $2.98M in cash as of July 30 and an operating cash burn of $1.09M in Q2.

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