Eva Live Secures $1.875M Convertible Note with Dune Equity, First Tranche Funded
GOAI sits 23% above its 52-week low of $1.42 on light trading volume (0.1× avg).
Summary
Eva Live raised up to $1.875M via a secured convertible note with Dune Equity Holdings, with the first $937,500 tranche funded. The note converts at $2.50 per share but can drop to a 65% market-price discount upon default, creating substantial dilution risk.
Key Events · Financing and Capital Events · GOAI
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Secured Convertible Note with Dune Equity
Eva Live entered into a securities purchase agreement with Dune Equity Holdings LLC for a 12% secured promissory note of up to $1,875,000, with the first tranche of $937,500 funded on October 2, 2026 for net proceeds of $747,500 after $40,000 in legal fees.
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Conversion Price and Dilution Risk
The note converts at a fixed price of $2.50 per share, but upon default or missed amortization payment, the conversion price drops to 65% of the three lowest traded prices over the prior ten trading days — a structure that can significantly increase share issuance.
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Commitment Shares and Make-Whole
Dune received 75,000 commitment shares, with additional make-whole shares required if the legend-removal price is below $2.86, calculated as $150,000 divided by that price minus 75,000 shares.
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Security Interest and Senior Debt
The note is secured by all assets of Eva Live and its subsidiaries, junior in priority to the senior secured debt owed to Streeterville Capital, LLC.
Analysis · GOAI · Technology
Eva Live entered into a secured convertible note with Dune Equity Holdings for up to $1.875M, with the first tranche of $937,500 funded on October 2, 2026. The note carries a fixed conversion price of $2.50 per share, but that price drops to 65% of the three lowest traded prices over ten days if the company defaults or misses an amortization payment — a structure that can rapidly increase dilution. The company also issued 75,000 commitment shares and granted a security interest over all assets, junior only to Streeterville Capital's senior debt. Against a backdrop of a going-concern warning and a three-month cash runway disclosed in August, this financing provides near-term liquidity but adds significant potential dilution and a heavy amortization schedule beginning just 15 days after funding.
How filings like this one have moved
In the 30 days to Oct 8, 2026, 36.4% of the 1096 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.63%. 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, GOAI was trading at $1.74 on NASDAQ in the Technology sector, with a market capitalization of approximately $69.2M. The 52-week trading range was $1.42 to $18.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.