debt
confidence high
sentiment neutral
materiality 0.35
Edgemode raises $100K via convertible promissory note with 15% OID
Edgemode, Inc.
- Issued $129,600 principal note to Vanquish Funding Group; net proceeds $100,000 after $21,600 OID.
- Note bears 15% one-time interest (22% default rate), matures April 15, 2027.
- Payable in four monthly installments starting Jan 15, 2027: $74,520 then three $24,840 payments.
- Convertible into common stock upon default at 61% of lowest trading price over prior 20 days.
- Proceeds used for working capital; company paid $8,000 in legal and due diligence fees.