Bankruptcy: QHSLab, Inc.

Form Type: 8-K

Filing Date: 2025-02-25

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000149315225008228

Filing Summary: On February 20, 2025, QHSLab, Inc. received a Notice of Default from Mercer Street Global Opportunity Fund, LLC regarding outstanding convertible promissory notes. The company acknowledges that it is in default of its obligations under these notes, which matured in August 2022 and July 2023 and remain unpaid. The lender has declared all outstanding principal and accrued interest due, amounting to $1,400,853.77, plus the potential for an additional 20% in default principal. The company is in discussions with the lender about resolving this issue but does not expect to meet the payment deadline of February 27, 2025. The company is evaluating its financial and strategic alternatives due to this demand, and there is uncertainty about reaching an agreement with the lender, which could involve additional remedies under applicable agreements and law.

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