BRQL Secures $246K Net Proceeds via Note; Creates Series E Preferred Stock
Dynamic Aerospace Systems (BRQL) secured $246,000 in net proceeds by issuing a $275,000 Convertible Promissory Note to LABRYS FUND II, L.P., along with 20,000 commitment shares and warrants for 199,275 shares. The company also issued 500,000 restricted common shares for consulting services. Concurrently, BRQL filed to create 25,000,000 shares of Series E Preferred Stock with 1:1 voting rights and a 1.25 common share conversion ratio after six months. Separately, BRQL will host a multi-agency Drone Demo Expo with the Arizona Department of Public Safety on April 30, 2026, to showcase its UAV platforms, including the US-1, G1 MKII, and Mitigator drones, to government and public safety agencies.
Key Highlights
- Issued $275,000 Convertible Promissory Note, yielding $246,000 net proceeds.
- Issued 20,000 common shares as commitment fee and warrants for 199,275 shares at $0.65.
- Issued 500,000 restricted common shares for advisory consulting services.
- Created 25,000,000 shares of Series E Preferred Stock with 1:1 voting rights.
- Series E Preferred Stock convertible into 1.25 common shares after 6 months.
- To host Drone Demo Expo on April 30, 2026, with AZ DPS, showcasing UAVs.
- Featured UAVs: US-1 Long-Endurance, G1 MKII Long-Range, Mitigator Indoor Tactical Drone.
Price Impact
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