Polomar Health Services, Inc. executed a Promissory Note and Loan Agreement on November 9, 2026, with Island 40 Group, LLC (I4G). The agreement, filed as an exhibit to the company's Form 8-K, outlines a financial obligation to settle commissions owed to I4G for services provided under a Sales Director and Distribution Agreement.
The principal amount of the loan is $450,000. The note is guaranteed by Polomar Specialty Pharmacy, LLC, a wholly owned subsidiary of Polomar Health Services.
Interest on the note is set at 10% per annum, calculated as simple interest through December 31, 2026. Following that date, the rate will adjust to the prime interest rate as published in the Wall Street Journal – Money Rates plus 4%.
The loan matures on March 31, 2027. The company has the right to prepay the loan in whole or in part at any time without penalty or premium. Payments are structured to be applied first to fees, then to accrued interest, and finally to the principal balance.
The agreement includes standard provisions regarding events of default, including bankruptcy or insolvency events, which would trigger immediate repayment of all amounts due. The lender is permitted to assign the note to a third party without notice, while the company is restricted from assigning its obligations without the lender's written consent.
