Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

v3.22.2.2
Subsequent Events
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 17 – SUBSEQUENT EVENTS

 

July 2022 Stock Issuance

 

On July 12, 2022 the Company issued 150,000 shares of Common Stock as a compensation for marketing services.

 

On July 12, 2022 the Company issued 150,000 shares of Common Stock as a compensation for PR/IR services.

 

On July 12, 2022 the Company issued 1,000,000 shares of Common Stock as a compensation for advisory services for the engagement period.

 

On July 21, 2021, a Nanomix, Inc stock option was exercised for 44,779 shares with an exercise price of $0.05806 per share for a total amount of $2,600.

 

July 2022 Private placement

 

In July 2022, Nanomix Corporation entered into a securities purchase agreement with Garrett Gruener, a Director of the Company, pursuant to which the Company issued a senior secured convertible note in a principal amount of $749,999 for an aggregate purchase price of $675,000. The Note has a term of twenty-four months and mature in July 2024, unless earlier converted or extended under certain conditions as set forth in the Note (the “Maturity Date”). On the Maturity Date, the Company shall pay to the Investor an amount in cash representing 115% of all outstanding principal amount and any other amounts which may be due under the Notes. Upon an Event of Default (as defined in the Notes), the Notes accrue interest at a rate of 14% per annum.

 

August 2022 Private placement

 

In August 2022, Nanomix Corporation entered into a securities purchase agreement with Jerry Fiddler, a Director of the Company, pursuant to which the Company issued a senior secured convertible note in a principal amount of $333,333 for an aggregate purchase price of $300,000. The Note has a term of twenty-four months and mature in July 2024, unless earlier converted or extended under certain conditions as set forth in the Note (the “Maturity Date”). On the Maturity Date, the Company shall pay to the Investor an amount in cash representing 115% of all outstanding principal amount and any other amounts which may be due under the Notes. Upon an Event of Default (as defined in the Notes), the Notes accrue interest at a rate of 14% per annum.

 

Management has evaluated subsequent events according to the requirements of ASC TOPIC 855 as of the date of the report, and believes there are no additional subsequent events to report.