The company issued senior secured convertible notes with an aggregate original principal amount of $2.5 million. The notes were issued at a 25% original issue discount (OID), resulting in net proceeds of $1.875 million. The notes carry a 12% annual interest rate, which increases to 17.5% upon an event of default. The maturity date for the notes is February 4, 2027. The company also issued 3,000,000 shares of common stock as a commitment fee to the purchasers. The notes are convertible into common stock at a price of $0.7101 per share, subject to adjustment.