Adia Med, Inc. has fully repaid and discharged an unsecured revolving line of credit facility with its Chief Executive Officer, Larry Powalisz. The agreement, originally entered into on June 30, 2024, was terminated on October 9, 2026.
The facility had been increased over time to a total commitment of $1,000,000 by the CEO to support the company's growth needs. The credit line carried an interest rate of 6% per annum, calculated on a daily basis. The Company satisfied the obligation through two payments made to Mr. Powalisz:
- October 7, 2026: $500,000
- October 9, 2026: $434,970.94 (which included $74,658.94 in accrued interest and the remainder applied to principal).
The total amount paid to the Lender was $934,970.94. The Lender, who is also the Company’s Chief Executive Officer, has acknowledged that the outstanding principal balance and all accrued interest have been paid in full as of October 9, 2026. The Company filed a Paid-in-Full Acknowledgment dated October 9, 2026, as Exhibit 10.1 to this report.
