SUBSEQUENT EVENTS |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| SUBSEQUENT EVENTS | |
| SUBSEQUENT EVENTS |
NOTE 9 - SUBSEQUENT EVENTS
Entry into a convertible loan agreement
On July 4, 2025, the Company’s Board of Directors approved by unanimous consent an unsecured convertible loan program for up to $2 million of borrowings from investors. Subsequently, on July 8, 2025, the Company entered into a Convertible Loan Agreement with an investor under this convertible loan program. The investor loaned the Company $250,000 at an interest rate of 10% and a term of 24 months. Interest on the loan accrues and is due along with the principal at the end of the term. In addition, the Company issued a warrant to the investor which allows the investor to purchase 1,793 shares of the Company’s common stock at a fixed price of $13.94 per share, the market price on the day of the loan agreement. |