debt
confidence high
sentiment neutral
materiality 0.70
GBT Technologies issues $59,408 promissory note and $62,680 convertible note to 1800 Diagonal Lending
GBT Technologies Inc.
- Promissory note of $59,408 (net $53,150) with 12% interest, maturity June 1, 2024.
- Convertible note of $62,680 (purchase price $52,150) with 6% interest, convertible after 180 days at 85% of lowest trading price.
- Both notes issued to accredited investor 1800 Diagonal Lending LLC under Section 4(a)(2) exemption.
- Proceeds used for general working capital.
- Promissory note convertible only upon default; convertible note has conversion rights after 180 days.