Positron issues $2 million in 20% unsecured promissory notes to investors
POSC•Positron issued $2 million in unsecured promissory notes on Sept. 30, 2026, including $1.5 million to George Ortiz. The notes carry 20% annual interest and mature Sept. 30, 2027; lenders also received warrants for 400,000 shares at a $2 exercise price.
1. Note terms
TISU Investments provided $400,000 and an unrelated investor provided $100,000. Interim interest equal to 10% of original principal is due six months after issuance. Prepayment is permitted without penalty; payment default allows acceleration, and bankruptcy triggers automatic acceleration. The warrants are exercisable through Dec. 31, 2030.
