IIOT-OXYS Extends $75K Convertible Note Maturity, Secures Default Waiver
ITOX sits 35% above its 52-week low of $0 on elevated volume (2.6× avg).
Summary
IIOT-OXYS, Inc. secured an extension for a $75,000 convertible promissory note until October 31, 2026, and a waiver of all prior defaults, providing a critical short-term financial reprieve for the distressed company.
Key Events · Financing and Capital Events · ITOX
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Convertible Note Maturity Extended
The maturity date for a $75,000 Convertible Promissory Note with GHS Investments LLC was extended from April 29, 2026, to October 31, 2026. This is the seventh extension of the note, originally issued in July 2020.
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Waiver of Prior Defaults
GHS Investments LLC waived all prior Events of Default, known or unknown, by IIOT-OXYS, Inc. as of the effective date of the extension.
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Addresses Going Concern Risk
This extension provides a vital short-term financial reprieve for the company, which recently reported substantial doubt about its ability to continue as a going concern and zero revenue in its latest 10-K filing.
Analysis · ITOX · Technology
This filing is critical for IIOT-OXYS, Inc.'s immediate financial stability. The extension of the $75,000 convertible promissory note's maturity date to October 31, 2026, combined with the waiver of all prior defaults by GHS Investments, provides a crucial reprieve. Given the company's recent disclosure of substantial doubt about its ability to continue as a going concern and zero revenue, avoiding a default on this significant debt obligation is essential for extending its operational runway.
At the time of this filing, ITOX was trading at $0.00 on OTC in the Technology sector, with a market capitalization of approximately $351.8K. The 52-week trading range was $0.00 to $0.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.