Sunday, May 21, 2023 2:44:46 PM
https://www.otcmarkets.com/filing/html?id=16535244&guid=QXm-kWGmkEC6Jth
12. Short-term Notes
Leonite Capital, LLC
Secured Promissory Notes
On March 1, 2022, the Company entered into a secured Promissory Note in the aggregate principal amount of $124,000 for net proceeds of $100,000 after an original issue discount of $24,000. Due to the failure to repay the note by due date, a penalty of $37,200 was added to the principal outstanding and the Company incurs a monthly monitoring fee of $2,000 per month. In addition the note earns interest at a default rate of 24% per annum on the total balance outstanding, including the monthly monitoring fee and accrued interest.
The Note had a maturity date of April 1, 2022. This note has not been repaid at the date of this report, we are in negotiations with Leonite to settle the balance outstanding and no default has been declared.
The balance outstanding on the note, including default penalty, interest accrued and monthly monitoring fees is $212,579 as of December 31, 2022.
On May 3, 2022, the Company, entered into a secured Promissory Note in the aggregate principal amount of $76,250 for net proceeds of $61,000 after an original issue discount of $15,250. Due to the failure to repay the note by due date, a penalty of $22,875 was added to the principal outstanding and the Company incurs a monthly monitoring fee of $2,000 per month. In addition the note earns interest at a default rate of 24% per annum on the total balance outstanding, including the monthly monitoring fee and accrued interest.
The Note had a maturity date of June 17, 2022. This note has not been repaid at the date of this report, we are in negotiations with Leonite to settle the balance outstanding and no default has been declared.
The balance outstanding on the note, including default penalty, interest accrued and monthly monitoring fees is $127,702 as of December 31, 2022.
For the quarterly period ended June 30, 2022
https://www.otcmarkets.com/filing/html?id=16018411&guid=5zm-kqGiKufgcVh
Leonite Fund I, LP
Effective June 1, 2022, The Company entered into a Note Exchange Agreement whereby
..., were exchanged for a new Senior Secured Convertible Promissory note in the principal amount of $745,375,... .
...The Note matures on March 1, 2023, and bears interest at the minimum of 10% per annum or the Wall Street Journal quoted prime rate plus 5.75%.
The convertible note is secured by all of the assets of Ethema Health Corporation and Addiction Recovery Institute of America, LLC.
June Leonite Note 8K
https://www.otcmarkets.com/filing/html?id=15961451&guid=5zm-kqGiKufgcVh
...The obligations of the Borrower under this Note are secured pursuant to the terms of the security and pledge agreement (The "Security and Pledge Agreement" and collectively the Purchase Agreement, the "Related Documents"...
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
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