ImageWare Systems, Inc. announced that it has issued secured promissory notes for an aggregate gross proceeds of $675,000 on August 2, 2022. The transaction included participation from certain accredited investors. The notes carry fixed rate of interest of 10% of the principal amount and is secured by the certain accounts receivable of the company.

The notes are issued pursuant to exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933.