Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
INFINITE GROUP INC incurred debt of $250,000 with James V. Leonardo at ten percent (10%) per annum maturing September 30, 2023.
- Principal
- $250,000
- Counterparty
- James V. Leonardo
- Rate
- ten percent (10%) per annum
- Maturity
- September 30, 2023
- Event
- incurrence
Exact text from the filing
On March 17, 2023, Infinite Group, Inc. (the “Company”), as borrower, entered into an Amended and Restated Line of Credit Note and Agreement (the “New Note”) effective as of October 1, 2022, which amended and restated that certain Line of Credit Note and Agreement dated March 14, 2016 (the “Original Note”) by and between the Company and James V. Leonardo (the “Holder,” together with the Company the “Parties”). The New Note has a principal amount of $250,000 (the ‘Principal Amount”) and accrues interest on the unpaid Principal Amount at a rate of ten percent (10%) per annum.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
INFINITE GROUP INC amended Amended and Restated Line of Credit Note and Agreement with James V. Leonardo valued at $250,000 (effective 2023-03-17).
- Action
- amendment
- Agreement
- credit facility
- Counterparty
- James V. Leonardo
- Value
- $250,000
- Effective
- 2023-03-17
Exact text from the filing
On March 17, 2023, Infinite Group, Inc. (the “Company”), as borrower, entered into an Amended and Restated Line of Credit Note and Agreement (the “New Note”) effective as of October 1, 2022, which amended and restated that certain Line of Credit Note and Agreement dated March 14, 2016 (the “Original Note”) by and between the Company and James V. Leonardo
View on SEC.gov