IIOT-OXYS Extends $75K Convertible Note, Gets Default Waiver, Buys Time
ITOX sits 35% above its 52-week low of $0.
Summary
IIOT-OXYS secured an extension for a $75,000 convertible promissory note with GHS Investments until October 31, 2026. Critically, GHS also waived all prior events of default. This follows the company's recent 10-K filing which revealed substantial doubt about its ability to continue as a going concern and reported zero revenue. The extension and waiver provide a temporary lifeline, preventing immediate financial distress and buying the company crucial time to address its severe operational and financial challenges.
At the time of this announcement, 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 news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.