debt
confidence high
sentiment negative
materiality 0.40
Edgemode issues 78,750 Series B Preferred shares to 1800 Diagonal Lending for $78,750
Edgemode, Inc.
- Issued 78,750 Series B Preferred shares at $1.00 stated value to 1800 Diagonal Lending LLC.
- Conversion price set at 65% of market price (35% discount), convertible after 180 days.
- Annual dividend of 8% (22% upon default), cumulative, payable on redemption/liquidation.
- Company may redeem at 120% within 90 days or 125% from 91-180 days; mandatory redemption after 12 months.
- Proceeds used for working capital; $3,750 paid for legal and due diligence fees.