Rapid Therapeutic raises $400K via 18% convertible note with insider Suggs

Rapid Therapeutic Science Laboratories, Inc.

Issued $400,000 promissory note to director J. Scott Suggs; interest 18% compounded monthly.
Maturity January 26, 2023; prepayment penalty of up to $101,760 if company lists on national exchange.
Upon event of default, holder can convert at 75% of 5-day VWAP (floor $0.000075/share).
Proceeds used for working capital; company reserved ~10.8M shares initially, up to 6.3B shares on full conversion.
Note unsecured; prohibits major asset sales without holder consent while outstanding.

item 1.01 item 2.03 item 3.02 item 3.03 item 9.01 item 6.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.