iSign Solutions Inc. (OTCMKTS:ISGN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
On June 19, 2020, iSign Solutions Inc. (the “Company”) entered into a Note Purchase Agreement (the “Purchase Agreement”) with an investor. Under the terms of the Purchase Agreement, the Company received a cash loan in the aggregate amount of $250,000 (the “Loan”) from the Investor in exchange for the Company’s issuance of an unsecured convertible promissory note equal to the amount of such Investor’s loan contribution to the Company. The Note bears interest at the rate of 10% per annum, and has a maturity date the earlier of December 31, 2021, or the date on which the Company’s other outstanding unsecured convertible promissory notes are due. The Note may be converted by its terms at the option of Investor into shares of the Company’s common stock.
The Company may use any funds received from the Investors for working capital and general corporate purposes, in the ordinary course of business, and to pay fees and expenses in connection with the Company’s entry into the Purchase Agreement.
About iSign Solutions Inc. (OTCMKTS:ISGN)
iSign Solutions Inc., formerly Communication Intelligence Corporation, is a supplier of digital transaction management (DTM) software enabling the paperless, secure management of document-based transactions. The Company’s solutions include an array of functionality and services, including electronic signatures, workflow management and various options for biometric authentication. These solutions are available across virtually all enterprise, desktop and mobile environments as an integrated platform for both ad-hoc and automated transactions. The Company’s SignatureOne and iSign suite of electronic signature solutions enable businesses to implement paperless and electronic signature-driven business processes. The SignatureOne and iSign suite of products includes SignatureOne Ceremony Server (Ceremony Server), iSign Console (Console), iSign Enterprise, iSign Family, Sign-it and iSign Toolkits. Its products allow legally binding electronic signatures to be added to digital documents.