other material
confidence high
sentiment neutral
materiality 0.50
Edgemode issues 78,750 Series B Preferred shares at $1.00 each for $78,750 working capital
Edgemode, Inc.
- Issued 78,750 Series B Preferred shares at $1.00 stated value to 1800 Diagonal Lending LLC for $78,750 cash.
- Series B carries 8% cumulative annual dividend (22% on default), payable only on redemption, liquidation or conversion.
- Conversion price is 65% of the average two lowest trading prices over 20 days (35% discount), with 4.99% beneficial ownership cap.
- Company may redeem within 90 days at 120% premium, 91-180 days at 125%; mandatory redemption after 12 months or on default.
- Proceeds used for working capital; $3,750 paid to investor and counsel for legal/due diligence fees.