MITI · Mitesco, Inc.

Mitesco, Inc. disclosed multiple material events in its April 24, 2026 8-K filing. The company entered into a $55,000 bridge note financing with a new institutional investor, receiving $50,000 in net proceeds after a 10% original issue discount. The note bears 10% interest, matures in 12 months, and is convertible into common stock at $0.15 per share, with a variable conversion price floor based on market price. This unregistered offering was conducted under Section 4(a)(2) and Regulation D. Separately, the Board approved issuance of Series X Preferred stock valued at $60,000 to each director and to Anglo Irish Investments as compensation for FY2026, increasing outstanding Series X shares to 51,703. The Series X stock carries super voting rights (400 votes per share) and cumulative dividends at 10% of $25 liquidation preference. CEO Brian Valania's FY2026 compensation was set at $120,000 base salary plus $30,000 quarterly performance bonus, both accruing but contingent on cash availability; $60,000 from FY2025 remains unpaid. The Board also approved a stock option plan for up to 5 million shares under Form S-8, with exercise price at 115% of closing price. Additionally, the company retained a valuation firm for a potential acquisition, expecting up to $150,000 in professional expenses in Q2 FY2026, though no assurance of completion was given. These actions signal ongoing capital raising, executive retention, and strategic M&A activity, but also highlight cash constraints and reliance on external funding.