secwatch.observer — SEC 8-K summary
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Issuer:     NON INVASIVE MONITORING SYSTEMS INC /FL/ (NIMU)
CIK:        0000720762
Form:       8-K
Filed at:   2021-10-06T23:59:59+00:00
Accession:  0001493152-21-024828
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NIMS borrows $150K from related parties Frost Gamma Trust and Jane Hsiao at 11% interest
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- Two $75,000 promissory notes executed Oct 4, 2021 with Frost Gamma Investments Trust (Dr. Phillip Frost) and Jane Hsiao (Chairman/Interim CEO).
- Each note bears 11% annual interest; principal and accrued interest due October 4, 2023; prepayable without penalty.
- Frost Gamma Trust is controlled by Dr. Phillip Frost, who beneficially owns >10% of NIMS common stock.
- Jane Hsiao is Chairman and Interim CEO of NIMS and a >10% beneficial owner.
- Proceeds purpose not disclosed; notes governed by Florida law, enforceable in Miami-Dade County courts.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/720762/000149315221024828/0001493152-21-024828-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/720762/000149315221024828/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-024828

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