Research Reports

Key takeaways

Amendments executed March 5, 2026, effective January 1, 2026 with 11 noteholders.

Extended maturity of $490,000 9.5% secured convertible notes and $50,000 unsecured convertible notes to Dec 31, 2026.

Waived all defaults on notes through effective date.

Warrant expiration extended from Dec 31, 2025 to Dec 31, 2026.

Warrant exercise price reduced to $1.50, adjustable post-NASDAQ listing to max($1.50, 85% of 10-day VWAP).

$125,000 secured notes held by director Christopher Stuart included.

Full analysis

The amendments avert immediate default on $540,000 in convertible notes by extending maturities one year and waiving prior breaches, providing Wytec with critical liquidity relief into 2026. In exchange, the company adjusted warrant terms to lower the exercise price floor to $1.50 from the prior greater-of-$5.00-or-85%-of-moving-average structure, potentially making conversion more attractive to noteholders while including a market-based adjustment mechanism upon NASDAQ listing. This impacts security holder rights through modified conversion economics and warrant exercisability, with director Christopher Stuart's participation signaling alignment. Exhibits 10.1 and 10.2 detail the standardized forms used across the 11 agreements.

WYTC · Wytec International Inc.

Summary

Key takeaways

Full analysis