Dolphin Entertainment raises $1.85M via convertible notes with 10% interest

Dolphin Entertainment, Inc.

Issued five convertible promissory notes to three individuals for aggregate $1.85M.
Notes bear 10% interest; two notes at $450K mature in 4 years, remaining three mature in 2 years.
Conversion based on 90-day trailing avg trading price; floor $2.50 on one note, $2.00 on others.
Proceeds of $1.85M received in cash; securities sold under Section 4(a)(2) exemption.

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