debt
confidence high
sentiment neutral
materiality 0.55
Kinetic Seas issues $210K convertible note to CFI Capital with 60% conversion discount
Kinetic Seas Inc.
- Principal $210,000 with $21,000 OID; net proceeds $189,000 before expenses.
- Note matures July 8, 2027; 6% interest payable in common stock.
- Conversion price set at 60% of lowest trading price over 20 days (50% if DTC chill).
- Holder may convert after 6 months; redemption premiums range from 105% to 140%.
- Company reserves 49,857,550 shares for conversion, minimum 5x full conversion.