NON INVASIVE MONITORING SYSTEMS INC /FL/

Non-Invasive Monitoring Systems, Inc. (NIMU) entered into a Note Purchase Agreement with Defender Opportunity LLC, selling a Convertible Promissory Note for $809,705.75. The proceeds were used to repay existing promissory notes, including those held by officers and directors, totaling $720,000 in principal and $89,705.75 in accrued interest. The Convertible Note carries an interest rate of 11% per annum until November 12, 2026, increasing to 22% thereafter, and automatically converts into common stock upon the closing of the planned merger with Gravitics, Inc.

NON INVASIVE MONITORING SYSTEMS INC reported a net loss of $163,000 for the first quarter of 2026, a significant increase from $39,000 in the prior year, primarily driven by professional fees related to its planned merger with Gravitics, Inc. The company continues to face substantial doubt about its ability to continue as a going concern, with a shareholders' deficit and negative working capital of $1,159,000. Despite these financial challenges, the company is actively pursuing the merger and has secured additional related-party financing.

Non-Invasive Monitoring Systems, Inc. (NIMS) entered into two promissory notes totaling $300,000 on May 7, 2026. The first note, for $200,000, was with Frost Gamma Investments Trust, controlled by a NIMS Board Member. The second note, for $100,000, was with Jane Hsiao, NIMS' Chairman and Interim CEO. Both notes carry an 11% annual interest rate and mature on June 30, 2026, with prepayment allowed without penalty.