DealsJun 3, 2026, 06:07 AM
Hallmark Venture Group Sells Impaired $113.8K Debt for $1,000
AI Summary
Hallmark Venture Group, Inc. sold an impaired promissory note with an outstanding balance of approximately $113,752 to SB Technology Holdings, Inc. for $1,000 in cash. The note, originally for $100,000 from Traderverse, Inc., was due in October 2024 and had been unpaid for over 18 months, leading Hallmark to write down its carrying value. The transaction was a related party deal, approved by Hallmark's Board, which deemed the $1,000 consideration as fair value for the impaired debt.
Key Highlights
- Hallmark Venture Group assigned an impaired promissory note to related party SB Technology Holdings.
- The note, from Traderverse, Inc., had an outstanding balance of approximately $113,752 as of December 31, 2025.
- Hallmark received $1,000 in cash for the assignment of the debt.
- The original principal amount of the note was $100,000, bearing 8.0% annual interest.
- The note matured in October 2024 and remained unpaid for over 18 months.
- Hallmark had previously written down the note's carrying value due to substantial doubt of collectibility.
- The transaction was approved by Hallmark's Board, which determined the $1,000 consideration was fair value.
Price Impact
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