debt
confidence high
sentiment neutral
materiality 0.50
APPlife issues $170K 6% convertible note with 65% conversion discount
APPlife Digital Solutions Inc
- Issued 6% convertible redeemable note, principal $170,000, OID $17,000, net proceeds $153,000.
- Matures Aug 5, 2027; convertible after 6 months at 65% of lowest 20-day trading price; 4.99% ownership cap.
- Prepayment allowed first 180 days at 105%-140% of outstanding; $6,000 buyer legal fee deducted from proceeds.
- Sold to accredited investor under Regulation D; shares issuable upon conversion unregistered, subject to legend.
- Existing convertible notes may trigger anti-dilution/MFN provisions per Schedule 3(e) of purchase agreement.