other material
confidence high
sentiment neutral
materiality 0.55
Tego Cyber enters $150K convertible note with Bigger Capital Fund for working capital
Tego Cyber, Inc.
- Total debt of $150,000 ($135,000 net after $15,000 original issue discount) from Bigger Capital Fund, LP.
- Note bears 10% interest, due Jan 12, 2023, with a 6-month extension at 15% interest.
- Convertible into common stock after 180 days at the lower of lowest trading price in prior 20 days.
- Company reserved 1,200,000 shares for potential conversion of debt.
- Securities issued in exempt transaction under Rule 506(b); proceeds for working capital.