debt
confidence high
sentiment neutral
materiality 0.50
Tego Cyber raises $300,000 in convertible note financing from AJB Capital Investments at 10% interest
Tego Cyber, Inc.
- Total debt of $300,000; net proceeds $270,000 after $30,000 original issue discount.
- Note bears 10% interest, matures Jan. 12, 2023, extendable six months at 15%.
- Convertible after 180 days at variable price based on lowest trading price over prior 20 days.
- Company reserved 2,400,000 shares for potential conversion of debt.
- Securities issued under Rule 506(b) exemption; no public offering or solicitation.