Zero Gravity Solutions, Inc. (OTCPK:ZGSI) announced a private placement of one unsecured promissory note from Michael T. Smith, an accredited investor for gross proceeds of $200,000 on March 8, 2018. The company also issued warrants to purchase 20,000 common shares of the company. The note carries a coupon of 10% and will mature on March 7, 2020. The warrants are exercisable within five years of issue at a price of $3 per share. The company may prepay the interest and principal at any time. The transaction is subject to exemption under regulation D.