Propanc Biopharma raises $203K via convertible notes with dilutive conversion terms

Propanc Biopharma, Inc.

Entered convertible note agreements with GS Capital ($93K principal, net $88K after $5K OID) and ONE44 ($110K principal, net $100K after $10K OID).
Notes bear interest at 8% (GS) and 10% (ONE44), mature in one year (Aug 2023).
Conversion price for GS note fixed at $0.0028/share, dropping to $0.0013 if stock trades under $0.002 for 5 days; ONE44 at 65% of lowest bid.
Prepayment premiums range from 110%-130% (GS) and 120%-135% (ONE44) of face value plus interest, within 180 days.
Proceeds used for general working capital; notes are convertible into common stock with 4.99% beneficial ownership cap.

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