debt
confidence high
sentiment negative
materiality 0.50
Edgemode issues $55k Series B Preferred with 35% conversion discount to 1800 Diagonal Lending
Edgemode, Inc.
- Issued 55,000 Series B Preferred shares at $1.00 each for total proceeds of $55,000 to 1800 Diagonal Lending LLC.
- Conversion price set at 65% of the lowest two trading prices over prior 20 trading days (35% discount).
- Company may redeem within 90 days at 120% premium, 91–180 days at 125%; mandatory redemption after 12 months or on default.
- Annual dividend 8% (22% on default), cumulative, payable only on redemption, liquidation, or conversion.
- Proceeds for working capital; company also paid $3,750 in legal and due diligence fees.