Mitesco raises $25K ZSP convertible note; director Balencic resigns; issues 2M shares

Mitesco, Inc.

ZSP Capital 2026 Bridge Note: $25,000 purchase, $27,500 face incl $2,500 OID, 10% interest, 12-month maturity; converts after 6 months or default at lesser of $0.15 or 65% of lowest 10-day trade.
Issued 2,000,000 restricted shares (500,000 each to four individuals) for TCDC data center and Robo Agent software projects, valued at $0.0375/share; $75,000 total charge.
Dr. Jordan Balencic resigned from the Board effective Oct. 6, 2026, citing lack of time; Mitesco says no conflicts and won't fill the seat given previously announced acquisition efforts.
Mitesco continues discussions with multiple acquisition candidates and restructuring of its Bridge notes and Series A Preferred shares.
Note has 18% default interest (or max legal), 4.99% beneficial ownership cap, and allows holder to deduct $1,750 per conversion notice.

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