IIOT-OXYS, Inc. (ITOX): debt financing — IIOT-OXYS defaults on $550K convertible notes; principal increased 20%

IIOT-OXYS, Inc.

$500K (2018) and $50K (2019) notes matured March 1, 2024 without payment; cure period expired.
Default triggers: principal increased 20%, warrant shares doubled (50% to 100%), holders can appoint board member.
Company in negotiations with lenders to revise terms; expects new terms soon.

item 2.04

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

IIOT-OXYS, Inc. faced acceleration on convertible notes of $50,000 with YVSGRAMORAH LLC maturing March 1, 2024.

Instrument: convertible notes
Principal: $50,000
Counterparty: YVSGRAMORAH LLC
Maturity: March 1, 2024
Event: acceleration

Exact text from the filing

amount of $500,000 to Sergey Gogin (the “ 2018 Note ”). In addition, on March 6, 2019, the Company issued a Senior Secured Convertible Promissory Note in the principal amount of $50,000 to YVSGRAMORAH LLC (the “ 2019 Note ” and, together, with the 2018 Note, each, a “Note” or, together, the “ Notes ”). The Company has entered into several amendments to each of

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

IIOT-OXYS, Inc. faced acceleration on convertible notes of $500,000 with Sergey Gogin maturing March 1, 2024.

Instrument: convertible notes
Principal: $500,000
Counterparty: Sergey Gogin
Maturity: March 1, 2024
Event: acceleration

Exact text from the filing

Sheet Arrangement. On January 22, 2018, IIOT-OXYS, Inc., a Nevada corporation (the “ Company ”), issued a Senior Secured Convertible Promissory Note in the principal amount of $500,000 to Sergey Gogin (the “ 2018 Note ”). In addition, on March 6, 2019, the Company issued a Senior Secured Convertible Promissory Note in the principal amount of $50,000 to

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299 debt financings filed in the last 30 days. Browse all debt financings →

IIOT-OXYS, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-24-001588

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