Innovation1 Biotech Inc.: debt financing — Innovation1 Biotech issues $20,000 promissory note at 10% interest

Innovation1 Biotech Inc.

Issued $20,000 demand promissory note to an accredited investor on Nov 1, 2023.
Note bears 10% annual interest; matures Jan 30, 2024 or 5 days after demand.
Proceeds used for general working capital; no other terms disclosed.

item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Innovation1 Biotech Inc. incurred loan of $20,000 at 10% interest per annum maturing January 30, 2024.

Instrument: loan
Principal: $20,000
Rate: 10% interest per annum
Maturity: January 30, 2024
Event: incurrence

Exact text from the filing

On November 1, 2023, Innovation1 Biotech Inc. (the “Company”) issued a $20,000 Demand Promissory Note (the “Note”) to an accredited investor in consideration for $20,000.

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Source: SEC EDGAR

accession 0001477932-23-008137

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