IIOT-OXYS amends convertible notes: maturity extended to Mar 2024, conversion capped at $50k/quarter

IIOT-OXYS, Inc.

Maturity extended to March 1, 2024, with automatic one-year extensions unless holder opts out.
Conversion limited to $50k per quarter; up to $100k if daily trading amount >= $25k over prior 30 days.
Conversion price changed to volume-weighted average price (VWAP) over previous 10 trading days.
Default triggers for missed interest payments and share price below $0.008 eliminated; all prior defaults waived.
Issuance of $20k incentive shares now, $50k more upon full conversion; registration required within 45 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

IIOT-OXYS, Inc. amended Amendments to Senior Secured Convertible Promissory Notes with Sergey Gogin and YVSGRAMORAH LLC valued at Principal amounts: $500,000 (2018 Note) and $50,000 (2019 Note); amendment extends maturity to March (effective 2023-03-01).

Action: amendment
Agreement: notes offering
Counterparty: Sergey Gogin and YVSGRAMORAH LLC
Value: Principal amounts: $500,000 (2018 Note) and $50,000 (2019 Note); amendment extends maturity to March
Effective: 2023-03-01

Exact text from the filing

On July 25, 2023, the Board of Directors of the Company approved the Company entering into amendments (the “ Amendments ”) to each of the Notes effective March 1, 2023 which extend the maturity dates to March 1, 2024, subject to additional one-year extensions in the event the Company does not receive prior written notice from the holder of the holder’s refusal to extend the maturity date.

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IIOT-OXYS, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-23-005165

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