debt
confidence high
sentiment negative
materiality 0.40
Propanc Biopharma enters $112,350 convertible note at 22% interest with 1800 Diagonal Lending
Propanc Biopharma, Inc.
- Issued $112,350 convertible promissory note to 1800 Diagonal Lending LLC at a 22% annual interest rate.
- Conversion price is 75% of average lowest trading price over 10 days prior to conversion, with 4.99% beneficial ownership cap.
- Maturity date April 30, 2026; company can prepay at 120% premium within 90 days, 125% from 91-180 days.
- Proceeds from $107,000 purchase price (after $5,350 original issue discount) used for general working capital.
- Events of default include failure to pay, failure to issue conversion shares, and loss of OTC listing.
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