Edgemode Raises $133,000 via 39%-Discount Convertible Note From Vanquish Funding
EDGM has more than doubled off its 52-week low of $0 on light trading volume (0.2× avg).
Summary
Edgemode raised $133,000 net from a $159,600 convertible note sold to Vanquish Funding Group, with a 39% conversion discount and 150%-200% default penalties. The cash extends runway for a company that reported a going-concern warning and just $16,710 of cash in August.
Key Events · Financing and Capital Events · EDGM
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Convertible Note Sold to Vanquish
Edgemode issued a $159,600 original-issue-discount convertible note to Vanquish Funding Group Inc. on October 14, 2026, receiving $133,000 net after a $26,600 OID and paying $8,000 of the investor's legal and due diligence fees.
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Punitive Conversion and Default Terms
The note carries a 15% one-time interest charge ($23,940) for total payback of $183,540, and converts at 61% of the lowest 20-day trading price — a 39% discount — only after an event of default and no earlier than 180 days from issuance. Default accelerates the balance to 150% of principal and interest, rising to 200% in certain circumstances.
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Repayment Schedule Through July 2027
Principal and interest are due in four payments: $91,770 on April 15, 2027, then $30,590 each on May 15, June 15 and July 15, 2027, with a five-day grace period and a 22% default interest rate.
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Cash Crunch Drives the Raise
The financing follows the August 2026 10-Q, which reported a $3.3 million quarterly loss, $16,710 of cash and a going-concern warning, and an October 16, 2026 8-K disclosing roughly $410,000 paid to retire five convertible notes.
Analysis · EDGM · Industrial Applications And Services
Edgemode took $133,000 in net cash against a $159,600 face-value note — a 17% original issue discount plus a 15% one-time interest charge, for a total payback of $183,540. The money buys a few more months of life for a company that reported only $16,710 of cash and a going-concern warning in its August 10-Q, but the terms are punitive: if Edgemode defaults, the note converts at 61% of the lowest 20-day trading price (a 39% discount), and the default amount jumps to 150% of principal and interest, or 200% in some cases. Conversion is barred until 180 days after issuance and only after a default, so no shares are issued today — but the structure is built to convert into a large block of stock at a steep discount if the company stumbles. The 4.99% ownership cap limits how much the holder can convert at once, not the eventual dilution.
How filings like this one have moved
In the 30 days to Oct 24, 2026, 37.1% of the 994 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.77%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, EDGM was trading at $0.00 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $1.8M. The 52-week trading range was $0.00 to $0.05. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.