Exactus, Inc. (OTCMKTS:EXDI) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
the Companys executive officers, Timothy Ryan and Philip J.
Young, a promissory note (the Promissory Note) in the principal
amount of $100,000, which amount may be drawn upon by the Company
as bridge financing for general working capital purposes. The
Promissory Note accrues interest at a rate of 8.0% per annum and
matures on the earlier of (i) one (1) year from the date of the
Promissory Note, and (ii) the closing the sale of the Companys
securities in a single transaction or a series of related
transactions from which at least $500,000 of gross proceeds are
raised.
qualified in its entirety by reference to the full Promissory
Note, which is attached as Exhibit 10.1 to this Current Report on
Form 8-K and incorporated by reference into this Item 1.01.
under an Off-Balance Sheet Arrangement of a Registrant.
this Current Report on Form 8-K, which disclosure is incorporated
herein by reference.
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ExhibitNo.
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Description
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10.1
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Promissory Note issued by Exactus, Inc. to Timothy Ryan
and Philip J. Young, dated June 28, 2017. |
Exactus, Inc. ExhibitEX-10.1 2 ex10-1.htm PROMISSORY NOTE SEC Connect Exhibit 10.1 EXACTUS,…To view the full exhibit click here
About Exactus, Inc. (OTCMKTS:EXDI)
Exactus, Inc. (Exactus), formerly Spiral Energy Tech, Inc., is a life science company. The Company will develop and commercialize Point-of-Care (POC) diagnostics for measuring proteolytic enzymes in the blood based on a detection platform. The Company’s primary business focus will be the development and commercialization of the FibriLyzer and related technology licensed by Exactus. The Company’s products will employ a disposable test biosensor strip combined with a portable hand held detection unit that provides a result in approximately 30 seconds. The Company intends to file to gain regulatory approval and launch its products in the United States and Europe.
