GBT Technologies Inc. announced that it has received $0.1053 million in funding from 1800 Diagonal Lending, LLC
The non-convertible promissory note was issued at a discount of $6,258 and has a maturity date of June 1, 2024 and the Company has agreed to pay interest on the unpaid principal balance of the non-convertible promissory note at the rate of 12.0% per annum from the date on which the non-convertible promissory note is issued. A one-time interest charge of 12% or $7,128 was applied on the issuance date of the non-convertible promissory note to the principal amount owed under the non-convertible promissory note. Accrued, unpaid interest and outstanding principal, subject to adjustment, shall be paid in ten payments each in the amount of $6,653.60 resulting in a total payback to the investor of $66,536. The first payment is due April 15, 2023 with nine subsequent payments each month thereafter. The Company shall have a five-day grace period with respect to each payment. The Company has right to accelerate payments or prepay in full at any time with no prepayment penalty. This non-convertible promissory note shall not be secured by any collateral or any assets of the Company.