HyOrc Corporation entered into a First Amendment to a Promissory Note and Securities Purchase Agreement with GS Capital Partners, LLC on September 13, 2026. The agreement modifies a previously issued $150,000 promissory note dated March 13, 2026.
Under the terms of the amendment, the maturity date for the note has been extended from September 13, 2026, to March 13, 2027. As consideration for this extension, the outstanding principal balance of the note has increased by $15,000. The new principal balance is $165,000. The note continues to accrue interest at an annual rate of 12%.
The amendment also addresses the status of 250,000 shares of HyOrc common stock previously issued to GS Capital as returnable shares. These shares will no longer be considered returnable and will remain the property of GS Capital. The company has relinquished its right to require the return or cancellation of these shares.
GS Capital acknowledged that the extension and amendments became effective prior to any potential Event of Default that would have resulted from the original maturity date. The company confirmed that no Event of Default will arise solely due to the non-payment of the note on the original September 13, 2026 date.
