Signing Day Sports, Inc. (SGN) has shared an update.
Daniel D. Nelson, CEO of Signing Day Sports, Inc., loaned the company $100,000 without set repayment terms, which was formalized in a promissory note allowing for additional advances up to the same amount. This note carries a monthly interest rate of 3.5%, compounding monthly, with full repayment due by the earlier of June 25, 2024, or upon the company securing $1 million in funding. Furthermore, the company failed to immediately disclose an audit opinion with a going concern qualification as required, but later rectified this with a press release.
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