IFAN Financial, Inc. announced that it has entered into a funding agreement for a private placement of a secured promissory notes at a price of $250,000 per note for gross proceeds of $250,000 with new investor, SBI Investments LLC, a fund managed by Sea Otter Global Ventures on May 14, 2015. The note is secured by insider stock. The note has a face value of $275,000, carries a fixed coupon of 10% and would mature in 12 month, payable quarterly in cash. All overdue unpaid principal to be paid will entail a late fee at the rate of 22% per annum. If any event of default occurs, 125% of the full principal amount of the note shall become immediately due and payable in cash. The company will also issue 500,000 warrants to purchase one share of common share per warrant. The exercise price of 250,000 of the warrants has been set at $0.50, and the exercise price of the other 250,000 warrants has been set at $1. These warrants are exercisable for 36 months after issuance. The company will issue securities pursuant to exemption provided under Regulation D. The company intended to issue two secured promissory notes of $250,000 each.