Convertible Promissory Notes
Note converts to Membership Units when the company raises $500,000 in a qualified equity financing
Maturity Date: 10/31/2020
Valuation Cap: $6,000,000
Discount Rate: 20%
Annual Interest Rate: 4%*
*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below
Maximum ($107,000) of Convertible Promissory Notes
Minimum ($10,000) of Convertible Promissory Notes