Neuropathix, Inc. announced that it has entered into a securities purchase agreement with three private investors for private placement of 3, 3% unsecured convertible promissory notes of $50,000 per note for gross proceeds of $150,000 on March 21, 2022. Each of the convertible notes is unsecured, bears interest at a rate of 3% per annum and shall be payable annually, will mature on March 21, 2032. The note is convertible in the sole discretion of the holder, in whole or in part, into restricted shares of the company's common stock at a conversion price equal to the lesser of $0.01 or 70% of the average of the 2 lowest closing prices of the company's common stock in the 10 trading days preceding any particular conversion, provided, the holder is prohibited from converting the convertible note, or portion thereof, if such conversion would result in beneficial ownership by the holder and its affiliates of more than 4.9% of company's issued and outstanding common stock as of the date of the conversion.