debt
confidence high
sentiment neutral
materiality 0.50
Good Hemp enters $250K note with Geneva Roth; receives $225K net after OID and fees
Accredited Solutions, Inc.
- Promissory note principal $250,375; 10% interest; matures Aug 13, 2022; 10 monthly payments of $27,541.
- Warrants issued to purchase 52,265 shares at $1.20 per share, cashless exercise, three-year term.
- Net proceeds to company $225,000 after $22,875 OID and $2,500 expense reimbursement.
- Note not convertible unless default; then conversion price at 75% of bid, capped at 4.99% ownership.
- Proceeds used for working capital; company maintains reporting and corporate existence covenants.