other material
confidence high
sentiment negative
materiality 0.80
VSee Health settles default dispute with ADI and M2B; issues notes and 1M shares
VSEE HEALTH, INC.
- Settlement resolves alleged default on $271,739 note; company to pay $50k cash and issue $50k convertible note to ADI.
- Company issues $125k convertible note to M2B; both notes convertible at 75% of lowest 20-day VWAP.
- Company issues 500k restricted shares each to ADI and M2B (1M total) with piggyback registration rights.
- Repayment of existing note from 50% of future financing proceeds (100% from ELOC).
- Default triggers acceleration, 18% interest, and reinstatement of original remedies.