Edgemode issues $159,600 convertible note to accredited investor
EDGM•Edgemode issued a $159,600 unsecured convertible note, receiving $133,000 in net proceeds for working capital. The note carries a 15% one-time interest charge and may convert after a default and 180 days at 61% of the lowest closing price over the prior 20 trading days.
1. Note terms
Edgemode issued the note effective October 19, 2026. The company will repay it in four monthly installments from April 15 through July 15, 2027, and separately paid $8,000 to reimburse the investor’s legal and due diligence fees.
2. Default and conversion
Overdue amounts accrue interest at 22% annually. Accelerated repayment is 150% of outstanding obligations, rising to 200% in certain circumstances. Conversion requires a default and 180 days from issuance, at 61% of the lowest closing trading price during the preceding 20 trading days.
