Aspen Group, Inc. Quarterly report pursuant to sections 13 or 15(d)

Quarterly report pursuant to sections 13 or 15(d)

CONVERTIBLE NOTE

CONVERTIBLE NOTE	9 Months Ended
Nov. 30, 2011
CONVERTIBLE NOTE	NOTE 4. CONVERTIBLE NOTE On September 26, 2011, the Company issued a convertible note with a face value totaling $10,000. The Holder shall have the right, at its option and simultaneously with the first closing thereof, to convert all or a portion of the Principal Amount of this Note into shares of the Company’s Common Stock at the conversion price of the next equity offering of the Company. The loan bears interest at an annual rate of 10% percent compounded monthly and matures on December 26, 2011.

CONVERTIBLE NOTE

9 Months Ended

Nov. 30, 2011

NOTE 4. CONVERTIBLE NOTE

On September 26, 2011, the Company issued a convertible note with a face value totaling $10,000. The Holder shall have the right, at its option and simultaneously with the first closing thereof, to convert all or a portion of the Principal Amount of this Note into shares of the Company’s Common Stock at the conversion price of the next equity offering of the Company. The loan bears interest at an annual rate of 10% percent compounded monthly and matures on December 26, 2011.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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