Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On October 19, 2021, CFN Enterprises Inc. (the "Company") borrowed $250,000 from
a lender and issued a promissory note for the repayment of the amount borrowed.
The promissory note is unsecured, has a maturity date of December 31, 2024 and
all principal is due upon maturity. The amount borrowed accrues interest at 12%
per annum and accrued interest is payable monthly commencing on December 1,
2021. The promissory note contains customary events of default permitting
acceleration of repayment for nonpayment of amounts due, a bankruptcy related
proceeding, breach of representations or covenants, sale of substantially all
assets, and change of control. The description of the promissory note is not
complete and is subject to and qualified in its entirety by reference to the
form of promissory note, a copy of which is filed as Exhibit 10.1 to this
Current Report and is incorporated herein by reference.
Item 9.01. Financial statements and Exhibits
(d) Exhibits.
Exhibit Number Description
10.1 Form of Promissory Note, dated October 19, 2021
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