Item 1.01 Entry into a Material Definitive Agreement.

On November 15, 2022, Encision Inc. ("Encision" or the "Company") entered into a loan and security agreement with Pathward, N.A. (formerly Crestmark Bank). The loan is due on demand and has no financial covenants. Under the agreement, we were provided with a line of credit that is not to exceed the lesser of $1,000,000 or 85% of eligible accounts receivable. The interest rate is prime rate plus 0.5%, with a floor of 6.75%, plus a monthly maintenance fee of 0.4%, based on the average monthly loan balance. Interest is charged on a minimum loan balance of $300,000, a loan fee of 0.5% at closing and annually, and an exit fee of 3%, 2% and 1% during years one, two and three, respectively.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number Description



10.1             Loan Agreement with Pathward, N.A. dated November 15, 2022.
104            Cover Page Interactive Data File (embedded within the Inline XBRL
               document).

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