CurAegis Technologies, Inc. (OTCMKTS:CRGS) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
This Current Report on Form 8-K of CurAegis Technologies, Inc. (the \”Company”) reports the March 31, 2020 investment made by B. Thomas Golisano, a current shareholder of the Company. On March 31, 2020, B. Thomas Golisano purchased $125,000 principal amount of the Company’s 6% 2019 Senior Convertible Promissory Notes and the corresponding shares of common stock.
The Company is currently offering up to $2.5 million aggregate principal amount of 6% 2019 Senior Convertible Promissory Notes and 750,000 shares of common stock (the “2019 Convertible Notes and Shares”) in a private placement. During the period from May 28, 2019 to March 31, 2020, the Company issued $1,250,000 aggregate principal amount of 6% 2019 Senior Convertible Promissory Notes and 375,000 shares of common stock in connection with the 2019 Convertible Notes and Shares.
The 2019 Convertible Notes and Shares are included in a private placement exempt from registration under the Securities Act and Rule 506 thereunder. Each purchaser is an accredited investor. Such securities will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This report does not constitute an offer for the sale of any securities. The descriptions of the 2019 Convertible Notes and Shares, and the securities purchase agreement to which the 2019 Convertible Notes and Shares are offered, are qualified in their entirety by reference to the securities purchase agreement and the 6% Senior Convertible Promissory Notes, copies of which are attached as Exhibits 4.1 and 4.2 hereto and incorporated by reference herein.
About CurAegis Technologies, Inc. (OTCMKTS:CRGS)
CurAegis Technologies Inc., formerly Torvec, Inc., develops and markets technologies in the areas of power, safety and wellness. The Company is focused on technologies, such as the Circadian User Risk Assessment (CURA) system and the Aegis hydraulic pump. The Company’s divisions include CURA Division and Aegis Division. The CURA division is engaged in the fatigue management business. The CURA system consists of individual elements, including the myCadian watch; panic-button and man-down system; CURA software, and the Z-Coach wellness program. The myCadian watch, a wearable device paired with the CURA system, is a real time alertness and emergency monitoring system that addresses sleep and fatigue management solutions. The Z-Coach e-learning module includes Z-Coach Aviation, which is designed for aviation professionals, from flight and ground crews, to scheduling, dispatch, administration and management. The Company’s Aegis division is engaged in the power and hydraulic business.
