Genvor Incorporated disclosed the issuance of two promissory notes on October 16, 2026, to members of its Board of Directors. The transactions were executed in exchange for funding provided by the directors on October 8, 2026.
The first note, valued at $20,408.16, was issued to Dr. Jesse Jaynes, the Company’s Chief Scientific Officer and a Board member. The note was issued in consideration of $20,000 in funding provided by Dr. Jaynes. It carries a 2% original issue discount and accrues interest at a rate of 15% per annum. The note matures on April 8, 2027, and is not convertible into Company equity.
The second note, valued at $10,204.08, was issued to Dr. Clayton Yates, another member of the Board of Directors. This note was issued in exchange for $10,000 in funding provided by Dr. Yates. Like the Jaynes Note, it includes a 2% original issue discount, accrues interest at 15% per annum, matures on April 8, 2027, and is not convertible into equity.
Full text copies of the promissory notes are attached as Exhibits 10.1 and 10.2 to the filing.
