Cyberloq Technologies, Inc. announced a private placement of convertible note to one of the company’s directors for the purchase price of $50,000 on June 3, 2023. The note carries an interest rate of 12% per annum compounding monthly and matures on June 2, 2024. The noteholder may convert at any time after issuance, in whole or in part, the outstanding principal and interest under the note into shares of the company’s common stock at a conversion price of $0.02 per share.

The conversion shares were not registered under the Securities Act, but qualified for exemption under Section 4(a)(2) and/or Regulation D of the Securities Act.