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Item 1.01
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Entry into a Material Definitive Agreement.
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Fourth Amendment to and Extension of Promissory Note. Effective
July 15, 2020, Predictive Oncology Inc. (the “Company”) entered into a fourth amendment to the Amended and Restated
Senior Secured Promissory Note dated September 28, 2018 and amended and restated as of February 7, 2019 issued to L2 Capital, LLC
(as amended by that certain First Amendment dated September 27, 2019, that certain Second Amendment dated December 12, 2019, and
that certain Third Amendment dated March 19, 2020, the “L2 Note”). Under the fourth amendment, the maturity date of
the L2 Note was extended from to July 15, 2020 to September 30, 2020.
Second Amendment to and Extension of Promissory Note. Effective
July 15, 2020, the Company entered into a second amendment to the Senior Secured Promissory Note dated September 27, 2019 issued
to Oasis Capital, LLC (as amended by that certain First Amendment dated March 19, 2020, the “First Oasis Note”). Under
the second amendment, the maturity date of the First Oasis Note was extended from July 15, 2020 to September 30, 2020. In exchange
for such extension, the outstanding principal amount of the First Oasis Note was increased by $345,000, such that, as of the effective
date of the amendment, the outstanding principal amount owed under the First Oasis Note was $1,280,833.
First Amendment to and Extension of Promissory Note. Effective
July 15, 2020, the Company entered into an amendment to the Senior Secured Promissory Note dated February 5, 2020 issued to Oasis
Capital, LLC (the “Second Oasis Note”). Under the amendment, the maturity date of the Second Oasis Note was extended
from August 5, 2020 to September 30, 2020. In exchange for such extension, the outstanding principal amount of the Second Oasis
Note was increased by $172,500, such that, as of the effective date of the amendment, the outstanding principal amount owed under
the Second Oasis Note was $1,622,500.
Documents. The foregoing description of the fourth amendment
to the L2 Note, the second amendment to the First Oasis Note and the first amendment to the Second Oasis Note are qualified in
their entirety by reference thereto, which are filed as Exhibits 10.1, 10.2 and 10.3, respectively, to this Current Report, and
are incorporated herein by reference.