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Tuesday, February 17, 2015 5:00:34 PM
Item 1.01. Entry into a Material Definitive Agreement.
On February 10, 2015, Intellinetics, Inc., a Nevada corporation (the “Company”), issued two convertible promissory notes in the amounts of $50,000, each (the “Convertible Notes”), to two accredited investors (the “Note Investors”). The Convertible Notes mature on December 31, 2015 (the “Maturity Date”) and bear interest at an annual rate of interest of 6 percent until maturity, with interest payable quarterly. The Note Investors have a right, in their sole discretion, to convert the Convertible Notes into shares of Common Stock, par value $0.001 per share, of the Company under certain circumstances at a conversion rate of $0.30 per Share. If the Convertible Notes have not been fully repaid by the Company by the Maturity Date or converted into shares at the election of the Convertible Note Investors prior to the Maturity Date, then such Convertible Notes will accrue interest at the annual rate of 12% from the Maturity Date until the date the Convertible Notes are repaid in full. Any interest not paid quarterly will also accrue interest at the annual rate of 12%. The Company intends to use the proceeds of the Convertible Note for working capital, general corporate purposes, and debt repayment. The form of the Convertible Notes are incorporated as Exhibit 10.1 to this Report, and the summary description of the terms of the Convertible Notes contained herein is qualified in its entirety by reference to Exhibit 10.1.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On February 10, 2015, the Company issued the Convertible Notes, in the aggregate principal amount of $100,000, as described in Item 1.01 of this Report, which description is incorporated herein by reference.
Recent INLX News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/21/2024 11:45:17 AM
- Intellinetics Grows 2024 Revenues 9.0% for Second Quarter of 2024 • Business Wire • 08/13/2024 08:06:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/13/2024 08:00:46 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 08:00:30 PM
- Intellinetics to Host Second Quarter 2024 Financial Results Conference Call on August 13 • Business Wire • 08/06/2024 08:06:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/10/2024 09:02:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 06:12:10 PM
- Intellinetics Grows 2024 First Quarter Revenues 7.7%, Grows SaaS Revenue 13.5% • Business Wire • 05/14/2024 08:06:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/14/2024 08:00:56 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/14/2024 08:00:28 PM
- Intellinetics to Host First Quarter 2024 Financial Results Conference Call on May 14 • Business Wire • 05/07/2024 08:06:00 PM
- Intellinetics Grows 2023 Full-Year Revenues 21% • Business Wire • 03/28/2024 08:06:00 PM
- Intellinetics to Host Fourth Quarter and Full Year 2023 Financial Results Conference Call on March 28 • Business Wire • 03/21/2024 08:06:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:12:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:11:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:11:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:11:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 10:11:28 PM
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- Intellinetics to Host Third Quarter 2023 Financial Results Conference Call on November 14 • Business Wire • 11/07/2023 09:06:00 PM
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