debt
confidence high
sentiment neutral
materiality 0.40
Emmaus Life Sciences issues convertible note to director for $1M and warrants for services
Emmaus Life Sciences, Inc.
- Director loaned $1M via convertible note due demand after 1 yr, 10% interest, convertible at $0.50/share into 2M shares.
- Two individuals received warrants for 250K shares each at $0.50/share for consulting services.
- Consulting firm received 5-yr warrant for 500K shares at $0.47/share for services.
- Total shares underlying instruments represent ~6% of pre-issuance common stock.
- Securities issued without registration under Section 4(a)(2) exemption.