debt
confidence high
sentiment negative
materiality 0.65
Edgemode issues $143,750 convertible note with 12% interest, OID, and 1.25M commitment shares
Edgemode, Inc.
- Net proceeds of $125,000 after $18,750 OID; note matures Nov 20, 2026 with 12% one-time interest.
- Conversion price $0.01/share after 180 days; resets to $0.0075 if stock below $0.01 for 5 days, then to lowest traded price on default.
- 1,250,000 commitment shares issued as additional consideration for the note purchase.
- Conversion capped at 9.99% beneficial ownership; note convertible any time after an event of default.
- Proceeds used for working capital; note is secured by standard events of default including failure to maintain OTC listing.