debt
confidence high
sentiment negative
materiality 0.50
Digital Ally gets $265K advance, extends repayment, pays $50K fee under note amendment
KUSTOM ENTERTAINMENT, INC.
- Additional $265,000 advance added to principal under March 1, 2024 note with Mosh Man, LLC.
- September 12, 2024 payment of $100,000 extended to September 26; all other payment terms unchanged.
- Borrowers to pay a $50,000 waiver/default/extension fee, also added to principal.
- A new UCC-1 filing by any other creditor after September 11 automatically constitutes a default.
- Funds are to be used for pre-approved obligations; Purchaser may pay obligations directly.