debt
confidence high
sentiment neutral
materiality 0.30
The Crypto Company issues $33,000 secured promissory note to AJB Capital Investments
Crypto Co
- Principal $33,000; purchase price $29,700; net proceeds $24,700 after fees.
- Note bears 12% annual interest, matures May 1, 2025; prepayable without penalty.
- Proceeds used for working capital, potential acquisitions, and general corporate purposes.
- Note secured by all company assets; on default, interest rises to 18% and AJB may convert to stock at discount.
- Company covenants to maintain OTC listing, comply with reporting, and not incur superior debt.