other_material
confidence high
sentiment negative
materiality 0.85
C2 Blockchain enters three dilutive financings: QC Note, Coventry Note, $10M equity line
C2 Blockchain, Inc.
- Quick Capital convertible note of $55,555 (net $47,000) at 12% OID and variable conversion at 65% of lowest 20-day trading price.
- Coventry Enterprises promissory note of $200,000 (net $170,000) with 12 monthly payments, plus 10M commitment shares (5M returnable).
- Equity line up to $10M over 36 months; shares sold at 80% of lowest 20-day price; 5M commitment shares issued as inducement.
- All securities issued in private placements under Section 4(a)(2) and Rule 506(b); registration rights for resale required.
- Potential dilution from warrants (2.78M shares at $0.02) and reservation of 30M shares for Coventry Note conversion on default.
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