debt
confidence high
sentiment neutral
materiality 0.70
Good Gaming signs $1M convertible note and $42k/month services pact with ViaOne
GOOD GAMING, INC.
- Revolving convertible promissory note of up to $1M from ViaOne with 8% interest and warrants for 1M shares at $0.42.
- Monthly services fee of $42,000 for HR, marketing, accounting; convertible to stock at 125% of fee amount.
- Conversion price for note set at 85% of 5-day VWAP; security interest on all assets except IP.
- Note matures on 3-year anniversary; services agreement auto-renews yearly unless 90-day notice given.