debt
confidence high
sentiment neutral
materiality 0.35
NIMS issues $25K promissory note to Frost Gamma at 11% due July 2025
NON INVASIVE MONITORING SYSTEMS INC /FL/
- Principal amount of $25,000 borrowed from Frost Gamma Investments Trust, a related party controlled by Dr. Phillip Frost.
- Interest rate of 11% per annum; note matures on July 31, 2025.
- Note may be prepaid without penalty; proceeds used for general corporate purposes.
- Dr. Phillip Frost beneficially owns over 10% of NIMS common stock, making this a related-party transaction.