CalEthos raises $3.5M via OID convertible note, grants 11.5M shares to CEO/CTO

CalEthos, Inc.

Sold $3.85M convertible note (10% OID) and Series A warrant for 1.54M shares at $1.87; net proceeds $3.5M.
Note converts at $1.25/share; automatic conversion triggers on registration of 5M+ shares or $3.00 closing price for 60 days.
Entered consulting agreements with CEO Michael Campbell (via M1 Advisors) and CTO Hyuncheol Kim at $200K/yr each.
Granted 1.5M shares to M1 Advisors and 10M shares to Hyuncheol Kim, vesting on ASIC chip development milestones.
After stock grants, 25.97M shares outstanding; M1 Advisors holds ~40.25% on a fully-diluted basis.

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