other_material
confidence high
sentiment negative
materiality 0.85
Cyber App Solutions faces foreclosure on $28M convertible notes; auction set for June 2, 2026
Cyber App Solutions Corp.
- Kips Bay Select filed Notice of Trustee's Sale on Feb 26, 2026; public auction scheduled June 2, 2026 at Apache County Courthouse.
- Amount due upon acceleration of Convertible Notes is approximately $28M, including default interest and fees.
- Foreclosure triggered by previously disclosed defaults; Company in discussions with Investors but no restructuring agreement yet.
- Company evaluating options and intends to further engage with Investors; no assurance on outcome.