$500,000 of 10% Convertible Bridge Notes and Warrants (20 Units at $25,000 per Unit)
Each $25,000 Unit Includes One Convertible Promissory Note and 12,500 Five-Year Warrants.
The Convertible Promissory Note Generates an Annualized Cash Distribution of 10%
(payable at the earlier of the closing of the subsequent offering or one (1) year).
All or a Portion of the Notes are
, at the Option of the Investor, into Shares of
the Company’s Subsequent Offering at a
to the Subsequent Offering Price.
Any Portion of the Notes not Converted will be Paid to the Note Holder at the earlier of the closing of the subsequent offering or one (1) year.
Each Five-Year Warrant Entitles the Holder the Right to Purchase One Share of the
Company’s Preferred Stock at a 15%
to the Company’s Subsequent Equity Offering