debt
confidence high
sentiment neutral
materiality 0.70
ElectroMedical Tech raises $750K via convertible notes; charter amendment gives super-voting to Series B Preferred
Electromedical Technologies, Inc
- Mast Hill Fund lends $500K (10% interest, OID $50K) and Talos Victory Fund $250K (10% interest, OID $25K); each convertible at $0.06/share.
- 5-year warrants issued: 4,166,666 shares at $0.12 per share to Mast Hill; 2,083,333 shares at $0.12 per share to Talos.
- Board increased authorized common stock to 250M shares; created Series B Preferred Share with super-voting rights (issued shares + 100K votes).
- Warrant cancellations: Vista Capital gets 1M restricted shares; Jefferson Street cancels remainder after $750K financing condition met.
- Yorkville debentures fully converted and satisfied; warrant exercise price adjusted to $0.025.