• PAID entered a Securities Purchase Agreement on Oct. 13, 2022 for a secured $1.88 million convertible note issued by Embolx.
• Note carried a 20% original issue discount, 9-month maturity, conversion option into Embolx common stock, secured by substantially all Embolx assets.
• Loan went into default as of July 19, 2023, triggering a 20% penalty, 20% interest, USD 578,425 other income for 2023.
• In March 2024, note was amended and replaced with an added USD 500,000 investment at a 25% original issue discount, due June 19, 2024.
• Defaulted June 19, 2024; forbearance extended a USD 5.97 million note to Sept. 30, 2025 at 25% interest, later extended to Oct. 31, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. PAID Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-26-029708), on September 04, 2026, and is solely responsible for the information contained therein.