Elite Health Systems enters $525K subordinated note with CEO; grants warrants for 110,526 shares

Elite Health Systems Inc.

$525,000 subordinated note from CEO Dr. Prasad Jeereddi, due July 31, 2027, 10% interest, 2% prepayment penalty.
Warrant to purchase 110,526 shares at $0.95/share, exercisable through July 31, 2031, with cashless exercise.
Company may accept additional investments up to $1.5 million aggregate on same terms.
Note is unsecured and subordinated; warrants are not registered and restricted.
Transaction approved by independent board members.

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