TMCnet News
Aura Receives $1.1 Million Loan From A Company DirectorREDONDO BEACH, Calif. --(Business Wire)-- Aura Systems, Inc. (OTCBB: AUSI) announced today that Mr. Robert Kopple a board member recently provided the Company with a new $1.1 million unsecured non-convertible short term loan. The Board approved the terms of the loan and Mr. Kopple excused himself from voting on the matter. Mr. Kopple to date has advanced the Company approximately $2.9 million in unsecured non-convertible loans. The $2.9 million included all the accrued interest to date. In adition, Mr. Kopple has a $2.0 million convertible Note with conversion right at $0.50 per share. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the Company's Securities and Exchange Commission filings. For more information on Aura Systems Inc. visit www.aurasystems.com.
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