Tofla Megaline in default on $524K convertible notes; lenders demand $863K

Tofla Megaline Inc.

Received default notice on three convertible promissory notes issued Jan 17, 2025, matured March 31, 2025, with principal $524,000.
Claimed default amount as of Dec 1, 2025 is $863,497.40, after partial payment of $85,000 on Nov 7, 2025.
Five business day cure period ending Jan 5, 2026; failure allows acceleration and enforcement on collateral at Peachtree Street NE, Atlanta.
Default Notice reinstates prior default notices; partial payment did not cure or extend deadlines.
Holders may seek conversion rights, collection actions, legal enforcement, and attorney's fees.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Tofla Megaline Inc. reported a default on convertible notes of $524,000 with three lenders at 150% Default Amount Due maturing March 31, 2025.

Instrument: convertible notes
Principal: $524,000
Counterparty: three lenders
Rate: 150% Default Amount Due
Maturity: March 31, 2025
Event: default

Exact text from the filing

from December 26, 2025, during which the Company may remit full payment of all outstanding amounts to cure the default. The Default Notice related to the principal amount of $524,000 due under the Notes provided by three lenders with a claimed 150% Default Amount Due (as of December 1, 2025) totaling $863,497.40, after giving effect to a partial payment of

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Source: SEC EDGAR

accession 0001731122-26-000008

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