Mitesco, Inc. raised $50,000 through unregistered convertible notes and issued over 3.1 million shares of restricted common stock for dividend and redemption payments on its preferred stock in Q1 FY2026.
Key takeaways
The company issued $55,000 in 10% convertible promissory notes to two historical investors at a $50,000 purchase price, with a 12-month maturity and conversion price of $0.15 per share.
Mitesco issued 222,142 shares of restricted common stock to pay Q1 FY2026 dividends on its Series X Preferred Stock, which has a total face value of $1,052,575 and bears 10% annual interest.
The company issued 2,922,915 shares in redemption of $201,400 of its Series A Preferred Stock for Q1 FY2026, reducing the remaining outstanding face value to $12,927,475.
These securities transactions were conducted under exemptions from registration, and the total shares outstanding after these issuances is approximately 20,244,118.
The company announced the launch of a video highlighting its Sportzfolio software application, a digital marketplace for sports facilities initially focused on pickleball.