Helio Corporation received default notices on three promissory notes totaling $250,000 in principal, potentially accelerating payment obligations, while also disclosing progress on its NASA SBIR Phase II program and appointing Oliver Fildes as Lead Systems Engineer for space-based solar power initiatives.
Key takeaways
Received default notices on February 7, 2026, demanding immediate payment on three promissory notes with original principal amounts of $50,000, $150,000, and $50,000.
Default notices allege the Company is in default under the applicable promissory notes and demand payment of outstanding principal balance plus accrued interest.
If payment is not made within 15 days from the date of the notices, legal action may be commenced to collect the indebtedness.
Appointed Oliver Fildes as Lead Systems Engineer for Space-Based Solar Power on February 12, 2026, overseeing systems integration and technical validation.
Issued press release on February 11, 2026, reporting continued progress on NASA SBIR Phase II program for QuasiStatic Release Mechanism technology.
Company is evaluating the default notices and engaged in discussions with note holders, but cannot predict the outcome of these matters.