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Monday, 11/15/2021 10:35:31 PM

Monday, November 15, 2021 10:35:31 PM

Post# of 701023
I was just reading the 10-Q and I noticed this paragraph. In the second paragraph is what really caught my eye. Extension of the notes to 2-4 months with individual lenders. Two thoughts:
1) It's clear that there is an expectation of something happening in 2-4 months.
2) I wonder if this is why Bigger was in Bethseda in early October.


"During October 2021, the Company entered into multiple four-month note agreements (the “Notes”) with various individual lenders (the “Holders”) with an aggregate principal amount of $1.14 million for net proceeds of $1.1 million. The Notes contain a conditional piggy-back right to independently purchase shares from the Company, which provides a right for the Holders, contingent on the release of clinical trial data and the next private placement offering (“Next Offering”) after this release, to (a) purchase shares from the Company within seven days following such Next Offering at a 12% discount from the share price of the Next Offering for a variable number of shares equal to an amount up to 50% of the principal amount of the loan and (b) exchange some or all of the outstanding loan amount for a variable number of shares, within seven days after the Next Offering at a 12% discount, resulting in a reduced cash amount repayable under the loan agreement.

In October 2021, the Company entered into multiple note extension agreements whereby the maturity date of the notes was extended for additional 2-4 months."
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