UNITED STATES
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SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
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INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
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TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
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PURSUANT TO RULE 13d-2
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Drinks Americas Holdings, LTD
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(Name of Issuer)
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Common Stock, $0.001 par value
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(Title of Class of Securities)
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26205U309
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(CUSIP Number)
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September 13, 2013
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(Date of Event Which Requires Filing of the Statement)
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¨
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Rule 13d-1(b)
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x
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Rule 13d-1(c) | |||
¨
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Rule 13d-1(d)
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CUSIP NO. 26205U309
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13G
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Page 2 of 7 Pages
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1.
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NAME OF REPORTING PERSONS
IBC Funds LLC
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) ¨
(b) ¨
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5.
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SOLE VOTING POWER
(1)
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6.
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SHARED VOTING POWER
(1)
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7.
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SOLE DISPOSITIVE POWER
(1)
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8.
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SHARED DISPOSITIVE POWER
(1)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(1)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES x (1)
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99% (1)
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12.
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TYPE OF REPORTING PERSON (See Instructions)
CO
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(1)
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Bryan Collins and Samuel Oshana are Managing Members of IBC Funds LLC (“IBC”) and may be deemed to hold shared voting and dispositive power over shares held by IBC. On July 26, 2013 and September 13, 2013, the Circuit Court in the 12th Judicial Circuit in and for Sarasota County, Florida, entered Orders Granting Approval of Settlement Agreement approving a Settlement Agreement and the Amended and Restated Settlement Agreement (the “Settlement Agreement”) between the Issuer and IBC whereby the Issuer, in lieu of cash payment, agreed to issue, in one or more tranches, that number of shares of Common Stock equal to $327,131.65 upon conversion into Common Stock at a conversion rate equal to 35% of the lowest traded price of the Common Stock during the twenty four months prior to the date the conversion is requested by IBC. However, pursuant to the Settlement Agreement, the Issuer may not issue shares of Common Stock that would result in more than an aggregate 9.99% beneficial ownership of the Issuer’s issued and outstanding Common Stock by IBC and its affiliates.
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CUSIP NO. 26205U309
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13G
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Page 3 of 7 Pages
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1.
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NAME OF REPORTING PERSONS
Bryan Collins
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) ¨
(b) ¨
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5.
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SOLE VOTING POWER
0
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6.
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SHARED VOTING POWER
(1)
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7.
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SOLE DISPOSITIVE POWER
0
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8.
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SHARED DISPOSITIVE POWER
(1)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(1)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES x (1)
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99% (1)
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12.
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TYPE OF REPORTING PERSON (See Instructions)
IN
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(1)
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Bryan Collins is a Managing Member of IBC Funds LLC (“IBC”) and may be deemed to hold shared voting and dispositive power over shares held by IBC. On July 26, 2013 and September 13, 2013, the Circuit Court in the 12th Judicial Circuit in and for Sarasota County, Florida, entered Orders Granting Approval of Settlement Agreement approving a Settlement Agreement and the Amended and Restated Settlement Agreement (the “Settlement Agreement”) between the Issuer and IBC whereby the Issuer, in lieu of cash payment, agreed to issue, in one or more tranches, that number of shares of Common Stock equal to $327,131.65 upon conversion into Common Stock at a conversion rate equal to 35% of the lowest traded price of the Common Stock during the twenty four months prior to the date the conversion is requested by IBC. However, pursuant to the Settlement Agreement, the Issuer may not issue shares of Common Stock that would result in more than an aggregate 9.99% beneficial ownership of the Issuer’s issued and outstanding Common Stock by IBC and its affiliates.
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CUSIP NO. 26205U309
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13G
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Page 4 of 7 Pages
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1.
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NAME OF REPORTING PERSONS
Samuel Oshana
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(see instructions)
(a) ¨
(b) ¨
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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5.
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SOLE VOTING POWER
0
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6.
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SHARED VOTING POWER
(1)
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7.
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SOLE DISPOSITIVE POWER
0
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8.
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SHARED DISPOSITIVE POWER
(1)
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(1)
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES x (1)
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||
11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.99% (1)
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||
12.
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TYPE OF REPORTING PERSON (See Instructions)
IN
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(1)
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Samuel Oshana is a Managing Member of IBC Funds LLC (“IBC”) and may be deemed to hold shared voting and dispositive power over shares held by IBC. On July 26, 2013 and September 13, 2013, the Circuit Court in the 12th Judicial Circuit in and for Sarasota County, Florida, entered Orders Granting Approval of Settlement Agreement approving a Settlement Agreement and the Amended and Restated Settlement Agreement (the “Settlement Agreement”) between the Issuer and IBC whereby the Issuer, in lieu of cash payment, agreed to issue, in one or more tranches, that number of shares of Common Stock equal to $327,131.65 upon conversion into Common Stock at a conversion rate equal to 35% of the lowest traded price of the Common Stock during the twenty four months prior to the date the conversion is requested by IBC. However, pursuant to the Settlement Agreement, the Issuer may not issue shares of Common Stock that would result in more than an aggregate 9.99% beneficial ownership of the Issuer’s issued and outstanding Common Stock by IBC and its affiliates.
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CUSIP NO. 26205U309
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13G
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Page 5 of 7 Pages
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Item 1(a).
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Name of Issuer:
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Drinks Americas Holdings, Ltd.
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Item 1(b).
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Address of Issuer’s Principal Executive Offices:
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4101 Whiteside Street, Los Angeles, CA 90063
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Item 2(a).
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Name of Person Filing:
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This statement is filed by: (i) IBC Funds LLC; (ii) Bryan Collins; and (iii) Samuel Oshana with respect to shares beneficially owned by IBC Funds LLC.
IBC Funds LLC, Bryan Collins and Samuel Oshana have entered into an Joint Filing Agreement, a copy of which is filed with this Schedule 13G as Exhibit 99.1, pursuant to which they have agreed to file this Schedule 13G jointly in accordance with the provisions of Rule 13d-1(k) of the Act.
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Item 2(b).
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Address of Principal Business Office or, if none, Residence:
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1170 Kane Concourse, Suite 404
Bay Harbour, Florida 33154
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Item 2(c).
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Citizenship:
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IBC Funds LLC is a Nevada limited liability corporation. Mr. Collins is a United States citizen. Mr. Oshana is a United States citizen.
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Item 2(d).
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Title of Class of Securities:
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COMMON STOCK
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Item 2(e).
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CUSIP Number:
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26205U309
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Item 3.
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Type of Person:
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Not applicable
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CUSIP NO. 26205U309
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13G
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Page 6 of 7 Pages
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(a)
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Amount beneficially owned:
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(1)
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(b)
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Percent of Class:
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9.99% (1)
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(c)
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Number of shares as to which such person has:
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(i)
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sole power to vote or to direct the vote:
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(1)
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(ii)
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shared power to vote or to direct the vote:
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(1)
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(iii)
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sole power to dispose or to direct the disposition of:
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(1)
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(iv)
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shared power to dispose or to direct the disposition of:
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(1)
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(1)
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Bryan Collins and Samuel Oshana are Managing Members of IBC Funds LLC (“IBC”) and may be deemed to hold shared voting and dispositive power over shares held by IBC. On July 26, 2013 and September 13, 2013, the Circuit Court in the 12th Judicial Circuit in and for Sarasota County, Florida, entered Orders Granting Approval of Settlement Agreement approving a Settlement Agreement and the Amended and Restated Settlement Agreement (the “Settlement Agreement”) between the Issuer and IBC whereby the Issuer, in lieu of cash payment, agreed to issue, in one or more tranches, that number of shares of Common Stock equal to $327,131.65 upon conversion into Common Stock at a conversion rate equal to 35% of the lowest traded price of the Common Stock during the twenty four months prior to the date the conversion is requested by IBC. However, pursuant to the Settlement Agreement, the Issuer may not issue shares of Common Stock that would result in more than an aggregate 9.99% beneficial ownership of the Issuer’s issued and outstanding Common Stock by IBC and its affiliates.
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Item 5.
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Ownership of Five Percent or Less of a Class:
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Item 6.
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Ownership of More than Five Percent on Behalf of Another Person:
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Item 7.
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Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:
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Item 8.
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Identification and Classification of Members of the Group:
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Item 9.
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Notice of Dissolution of Group:
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Item 10.
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Certifications:
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CUSIP NO. 26205U309
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13G
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Page 7 of 7 Pages
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IBC Funds LLC
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Date: September 13, 2013
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By:
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/s/ Bryan Collins
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Bryan Collins
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Date: September 13, 2013
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By:
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/s/ Bryan Collins
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Bryan Collins
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Date: September 13, 2013
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By:
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/s/ Samuel Oshana
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Samuel Oshana
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IBC Funds LLC
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Date: September 13, 2013
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By:
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/s/ Bryan Collins
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Bryan Collins
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Date: September 13, 2013
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By:
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/s/ Bryan Collins
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Bryan Collins
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Date: September 13, 2013
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By:
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/s/ Samuel Oshana
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Samuel Oshana
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