debt
confidence high
sentiment neutral
materiality 0.60
OneMeta issues $2M 14% convertible secured notes and 6M-share warrants at $0.08
OneMeta Inc.
- Convertible notes: $2M principal, 14% interest, 36-month amortization, maturity Oct 31, 2028.
- Notes convertible at $0.08/share; 5-year warrants to buy 6M shares at $0.08.
- Proceeds used to repay $917,966 former-President note and $408,486 credit card balances, remainder for working capital.
- Notes secured by security agreement and patent security agreement; negative covenants restrict additional debt and M&A.
- Holders granted one demand registration right and piggy-back registration rights on common stock.