debt
confidence high
sentiment neutral
materiality 0.40
Tego Cyber enters $150K convertible note with AJB Capital; due April 2023
Tego Cyber, Inc.
- Gross proceeds $150K, net $135K after $15K original issue discount.
- Promissory note bears 10% interest, matures April 13, 2023, extendable 6 months at 18%.
- Note convertible into common stock after 180 days at variable price based on lowest trading price.
- Company reserved 2,000,000 shares for potential conversion.
- Proceeds used for working capital.