other material
confidence high
sentiment neutral
materiality 0.35
Waterside Capital issues $40,874 convertible note to CEO; funded by 1 bitcoin, converts at $0.50
Metavesco, Inc.
- Issued $40,873.62 convertible promissory note to CEO/director/majority stockholder Ryan Schadel on March 4, 2022.
- Note represents value of 1 bitcoin on issue date; bears 3.25% simple interest, matures March 3, 2027.
- Conversion price of $0.50 per share; late payment interest at 12%; Company may prepay without penalty.
- Insider financing; no arm's-length negotiation disclosed; funds obtained from CEO's personal bitcoin.