debt
confidence high
sentiment neutral
materiality 0.20
Propanc Biopharma issues $33K convertible note; due March 2025, conversion at $0.0003
Propanc Biopharma, Inc.
- Issued convertible promissory note with $33,000 principal ($30,000 net) to GS Capital Partners, LLC.
- Conversion price set at $0.0003 per share, dropping to $0.0001 if stock trades below that for 5 consecutive days.
- Maturity March 25, 2025; 8% annual interest, increasing to 24% on default.
- Proceeds used for general working capital; prepayment options with premiums from 110% to 125% in first 180 days.
- Note issued under Regulation D as unregistered securities exempt under Section 4(a)(2) of Securities Act.