debt
confidence high
sentiment neutral
materiality 0.40
PetVivo major shareholder converts $123,255 note into 164,340 shares at $0.75/share
PetVivo Holdings, Inc.
- Alan Sarnoff, a >10% shareholder, converted $120,000 principal plus $3,255 accrued interest into 164,340 restricted shares at $0.75/share.
- Original note (Oct 16, 2023) had $1.60 conversion price and Nov 14, 2023 maturity; amended Nov 13, 2023 to extend maturity to May 14, 2024 and lower price.
- Conversion occurred on February 5, 2024, retiring the note and interest obligation.
- Shares issued as restricted under Section 4(a)(2) exemption; not registered under Securities Act.
- Transaction reduces debt by $123,255 and adds 164,340 shares to outstanding.