Item 3.02 Unregistered Sales of Equity Securities
On June 19, 2020, iSign Solutions Inc. (the "Company") entered into a Note
Purchase Agreement (the "Purchase Agreement") with an investor. Under the terms
of the Purchase Agreement, the Company received a cash loan in the aggregate
amount of $250,000 (the "Loan") from the Investor in exchange for the Company's
issuance of an unsecured convertible promissory note equal to the amount of such
Investor's loan contribution to the Company. The Note bears interest at the rate
of 10% per annum, and has a maturity date the earlier of December 31, 2021, or
the date on which the Company's other outstanding unsecured convertible
promissory notes are due. The Note may be converted by its terms at the option
of Investor into shares of the Company's common stock.
The Company may use any funds received from the Investors for working capital
and general corporate purposes, in the ordinary course of business, and to pay
fees and expenses in connection with the Company's entry into the Purchase
Agreement.
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