Cardiff Lexington Corp (CDIX)

[Backstabbed]

Item 8.01 Other Events.


As previously disclosed, Cardiff Lexington Corporation (the “Company”) issued two convertible promissory notes to PowerUp Lending Group, Ltd. (the “Lender”) on February 9, 2021 and April 26, 2021 (collectively, the “Notes”). As of September 30, 2023, the outstanding principal balance of the Notes was $18,540 and $168,866, respectively. On November 8, 2023, the parties agreed to a settlement of the Notes, pursuant to which the Company agreed to pay the Lender $175,000 in complete and full settlement of the Notes. The Company made such payment on November 8, 2023, and the Lender confirmed in writing that each of the Notes has been repaid in full and that the Company does not have any further obligations to the Lender.