debt
confidence high
sentiment neutral
materiality 0.55
Awaysis Capital borrows $1.1M from insider Harthorne via convertible note at 12% interest
Awaysis Capital, Inc.
- Principal $1.1M, 12% simple interest per annum, matures July 30, 2025.
- Convertible at $0.30/share into common stock at holder's option anytime before maturity.
- Proceeds to fund Casamora property development, working capital, and general corporate purposes.
- Lender Harthorne Capital is controlled by CEO Michael Singh, President Andrew Trumbach, and director Lisa-Marie Iannitelli.
- Note is unsecured and subordinated to senior indebtedness; prepayment permitted without penalty.