Loan & DebtMay 5, 2026, 09:32 AM
C2 Blockchain Secures $100K Convertible Note, Raises $38K Equity
AI Summary
C2 Blockchain, Inc. issued a convertible promissory note with a principal amount of $120,000 to Labrys Fund II, L.P., receiving gross proceeds of $100,000. The note includes a $20,000 original issue discount and a 10% one-time interest charge, maturing in 12 months, and is convertible into common stock at 75% of the lowest closing bid price. Additionally, the company completed two unregistered sales of common stock to accredited investors, raising an aggregate of $38,000 by issuing 3,800,000 shares at $0.01 per share.
Key Highlights
- C2 Blockchain issued a $120,000 convertible promissory note to Labrys Fund II, L.P.
- The company received gross proceeds of $100,000 from the note issuance.
- The note includes a $20,000 original issue discount and a $12,000 one-time interest charge.
- The note matures in 12 months and is convertible at 75% of the lowest closing bid price.
- C2 Blockchain sold 3,000,000 common shares for $30,000 on April 28, 2026.
- The company sold 800,000 common shares for $8,000 on April 30, 2026.
- Total gross proceeds from equity sales amounted to $38,000.
- Total capital raised from the note and equity sales is $138,000.
Price Impact
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