PAID, Inc. has entered into a letter agreement dated August 31, 2026, to further extend a forbearance agreement with Embolx, Inc. This extension pushes the maturity date for the outstanding note past September 30, 2025, to October 31, 2026. The note in question is a senior secured “A” note originally valued at $5,967,100.
The agreement was originally established on January 31, 2025, and was amended on September 30, 2025, to expire on August 31, 2026. The latest extension allows the company to continue to hold the note while forbearing on enforcement actions against Embolx. The note carries a 25% interest rate.
The financial history of this debt includes a default that occurred on June 19, 2024. Prior to the current forbearance terms, the note was amended in March 2024, which included an additional investment by PAID, Inc. of $500,000 and a 25% original issue discount. The note is secured by substantially all assets of Embolx.
