Loan & DebtOct 2, 2026, 04:56 PM
Positron Corp Issues $2M in Unsecured Notes at 20% Interest
AI Summary
Positron Corporation has issued $2,000,000 in unsecured promissory notes with a 20% annual interest rate, maturing on September 30, 2027. The notes were primarily issued to affiliated investors, including George Ortiz for $1,500,000 and TISU Investments LTD for $400,000, with the remaining $100,000 issued to an unrelated third party. As additional consideration, the company issued warrants for common stock purchases. Separately, George Ortiz exercised prior warrants, raising $450,000 for the company.
Key Highlights
- Positron Corp issued $2M in unsecured promissory notes.
- Notes bear 20% annual interest, with interim interest payment after 6 months.
- Principal due September 30, 2027; notes can be prepaid without penalty.
- Notes issued to affiliated investors George Ortiz ($1.5M) and TISU Investments LTD ($400K).
- An additional $100K note was issued to an unrelated third party.
- Warrants issued for 300K shares to Ortiz, 80K to TISU, and 20K to the third party at $2.00 exercise price.
- George Ortiz exercised prior warrants for 300K shares at $1.50, raising $450K.
Price Impact
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