PROMISSORY NOTE EXTENSION AGREEMENT This Promissory Note Agreement (the "Agreement") is entered into this 17 th day of August, 2023 (the "Effective Date") by and between Ainos, Inc., a Texas corporation (the "Maker"), an
Tuesday, August 22, 2023 1 min read
Key Takeaway: Ainos, Inc. has entered into a promissory note extension agreement with i2China Management Group, LLC. The agreement extends the maturity date of a previously established non-convertible promissory note for $84,000, which had an unpaid principal of $42,000. This extension allows for a new maturity date of September 1, 2024. In addition, terms for prepayment of the note are preserved under this agreement.
Market Sentiment Analysis
POSITIVE FACTORS
Extension of the maturity date provides flexibility for Ainos, Inc.
The agreement preserves all other terms and conditions, ensuring stability.
Ainos has the right to prepay principal and interest if desired.
Full Press Release Details
I2CHINA PROMISSORY NOTE
aimd_ex991.htm EXHIBIT 99.1
PROMISSORY NOTE EXTENSION AGREEMENT
This Promissory Note Agreement (the "Agreement") is entered into this 17th day of August, 2023 (the "Effective Date") by and between Ainos, Inc., a Texas corporation (the "Maker"), and i2China Management Group, LLC, a Delaware limited liability company, or its successors or assigns (the "Holder").
A.
The Parties entered into Non-Convertible Promissory Note dated January 1, 2020 for the Principal Amount of $84,000 with 1.85% per annum interest on unpaid principal and accrued interest, and a maturity date of January 1, 2021 (the "Note").
B.
As of the Effective Date of this Agreement, the unpaid principal under the Note amounts to $42,000 and interest has accrued on all unpaid balances.
NOW, THEREFORE, the Parties agree as follows:
1.
The maturity date of the Note is hereby extended to September 1, 2024.
2.
Maker reserves its right to prepay all or part of the principal and/or interest pursuant to the Note, and accrued interest shall be equitably adjusted on the outstanding principal of any such payment.
3.
All other terms and conditions of the Note shall continue in full force and effect.
IN WITNESS WHEREOF, the undersigned Maker and Holder have duly executed this Extension Agreement.
COMPANY:
Ainos, Inc., a Texas corporation
By:
/s/ Chun-Hsien Tsai
Chun-Hsien Tsai, CEO
HOLDER:
i2China Management Group, LLC
By:
/s/ Lawrence Lin
Lawrence Lin, Manager / Member
Frequently Asked Questions
What is the effective date of the Promissory Note Extension Agreement?
The effective date is August 17, 2023.
What was the original maturity date of the promissory note?
The original maturity date was January 1, 2021.
What is the new maturity date after the extension?
The new maturity date is September 1, 2024.
What is the principal amount of the original note?
The principal amount was $84,000.
What interest rate applies to the unpaid principal?