Mitesco issued a $25,000 face-value convertible promissory note to ZSP Capital with a 10% original issue discount and 10% interest rate. The debt matures in 12 months and converts at $0.15 per share. Additionally, the company issued 1 million restricted shares valued at $37,500 total as compensation for project assistance. Dr. Jordan Ballencic resigned from the Board of Directors due to time constraints, and the board will not fill the vacancy. Mitesco operates in the technology sector, focusing on edge computing networks and software applications.
