debt
confidence high
sentiment neutral
materiality 0.25
The Crypto Company issues $72,500 promissory note to AJB Capital, netting $18,000
Crypto Co
- Borrowed $72,500 principal note ($58,000 purchase price) from AJB Capital Investments; net proceeds $18,000 after fees.
- Note matures Dec 18, 2024, bears 12% annual interest; prepayable without penalty.
- Upon default, note converts to common stock at a discount to market price; secured by all company assets.
- Proceeds earmarked for working capital, potential acquisitions, and general corporate purposes.
- Offered in private transaction exempt under Rule 506(b) of Regulation D.