Visium Technologies issues $44,250 convertible note at 10% to 1800 Diagonal Lending

VISIUM TECHNOLOGIES, INC.

Principal amount $44,250; purchase price $40,000; net $4,250 used for legal/due diligence fees.
Note matures 12 months from March 16, 2023; convertible at $1.50 fixed for 180 days, then 65% of lowest trading price.
Prepayment penalty: 120% of outstanding if paid within 180 days; proceeds for general working capital.
Company grants 48-hour right of first refusal to buyer on future equity offerings under $150k for 9 months.
Customary representations, warranties, and covenants; Event of Default triggers included.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

VISIUM TECHNOLOGIES, INC. entered into Securities Purchase Agreement with 1800 Diagonal Lending LLC valued at $44,250 (effective 2023-03-06).

Action: entry
Agreement: notes offering
Counterparty: 1800 Diagonal Lending LLC
Value: $44,250
Effective: 2023-03-06

Exact text from the filing

On March 6, 2023, Visium Technologies, Inc. a Florida corporation (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with 1800 Diagonal Lending LLC, a Virginia limited liability company (the “Investor”), pursuant to which the Company issued to the Investor on that date a 10% Convertible Promissory Note (the “Note”) in the principal amount of $44,250 in exchange for a purchase price of $40,000.

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VISIUM TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001654954-23-003374

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