debt
confidence high
sentiment neutral
materiality 0.40
GBT Technologies issues two notes totaling $97,788 to 1800 Diagonal Lending
GBT Technologies Inc.
- Straight note of $47,208 principal ($42,150 net) at 12% interest, matures April 24, 2024; convert only upon default at 75% of lowest trading price.
- Convertible note of $50,580 principal ($42,150 net) at 6% interest, matures July 24, 2024; convertible after 180 days at 85% of lowest trading price.
- Both notes closed April 26, 2023; proceeds used for working capital; unregistered sale under Section 4(a)(2) of the Securities Act.
- Straight note requires ten monthly payments of $5,287.20 starting June 15, 2023, total payback $52,872.