ProPhase increases debt to $10M at 15% interest; adds risk factor on debt service

ProPhase Labs, Inc.

Amended note principal increased from $7.6M to $10.0M; additional net cash of ~$2.31M after interest.
Note matures Aug 15, 2027, with 15% annual interest, quarterly payments; prepayable without penalty.
As of June 30, 2024, company had $13.6M total debt (net of discounts) and only $2.4M cash.
Proceeds for working capital, capex, product development, and M&A.
New risk factor warns cash flow may not be sufficient to service debt.

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