United American Healthcare Corp. (OTCPK:UAHC) announced a private placement of secured promissory note for gross proceeds of $50,000 on October 10, 2013. The company issued note to existing investor, St. George Investments, LLC. The note bears a coupon of 10% per annum. Only upon an event of default, the note is convertible into new shares of company at a conversion price of $0.09614 per share. The note matures on the earlier of December 31, 2015, or the date of the sale of all or substantially all of the assets of the company or company's subsidiary, Pulse Systems, LLC, or the merger of the company or Pulse Systems, LLC, or the sale of all or substantially all of the equity of the company or Pulse Systems, LLC.

On October 10, 2013, United American Healthcare Corp. closed the transaction.