Crypto Company issues $120K promissory note to AJB Capital, net proceeds $98K

Crypto Co

Borrowed $120,000 principal via 12% promissory note due Feb 28, 2025; net proceeds $98K after fees.
Funds to be used for working capital, potential acquisitions, and general corporate purposes.
Note secured by all company assets under a Security Agreement with restrictive covenants.
Upon default, outstanding amount converts to common stock at a discount to market price; interest rises to 18%.

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