trender18
2 weeks ago
In February 20, 2024, the Company issued a convertible promissory note in the amount of $187,852 to the Companyβs CEO for the prepayment of the lease entered in February 2023 for three years from February 2023 to January 2026 for the property at 10 N Newnan Street, Jacksonville, FL 32202. In February 2024, the lease was extended for an additional two years to January 2028. The total payments for the four years are $375,704 and the landlord offered 50% discount for the prepayment. The Company issued this note to pay off the lease. The note has a term of four years, the interest rate is 10% per annum and the conversion price is $0.07 per share of common stock. The maturity date is February 20, 2028.
In February 20, 2024, the Company issued a convertible promissory note in the amount of $101,760 to the Companyβs CEO for the prepayment of the lease entered in January 2024 for three years from January 2024 to December 2026 for the property at 1268 Church Street, Jacksonville, FL 32202. In February 2024, the lease was extended for an additional two years to December 2028. The total payments for the five years are $203,520 and the landlord offered 50% discount for the prepayment. The Company issued this note to pay off the lease. The note has a term of five years, the interest rate is 10% per annum and the conversion price is $0.07 per share of common stock. The maturity date is February 20, 2029.
In February 20, 2024, the Company issued a convertible promissory note in the amount of $117,593 to the Companyβs CEO for the prepayment of the lease entered in February 2024 for five years from February 2024 to January 2029 for the property at 2502 Blanding Blvd, Jacksonville, FL 32210. The total payments for the five years are $235,185 and the landlord offered 50% discount for the prepayment. The Company issued this note to pay off the lease. The note has a term of five years, the interest rate is 10% per annum and the conversion price is $0.07 per share of common stock. The maturity date is February 20, 2029.