Convertible promissory note from EMA Financial
Company: CleanSpark
What the later record shows
Not a promise: a reported event · happened August 21, 2018
The claim reports a note already issued on August 21, 2018. No passage addresses the EMA Financial note's repayment or conversion.
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
On August 21, 2018, CleanSpark issued a convertible promissory note to EMA Financial, LLC in the principal amount of $225,000, due May 21, 2019, bearing interest at 12% per annum, convertible into common stock at 70% of the lowest trading price in the prior 20-day period.
Source (primary)
CleanSpark 8-K/A filed 2018-09-25 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On August 21, 2018 we entered into a Securities Purchase Agreement ("SPA") with EMA Financial, LLC, a Delaware limited liability company ("Purchaser"), pursuant to which we issued and sold to the Purchaser a convertible promissory note, dated August 21, 2018 in the principal amount of $225,000 (the "Note"). The Note, which is due on May 21, 2019, bears interest at the rate of 12% per annum.”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The 8-K/A states every element of the claim. The conversion price is actually the lesser of two 70%-of-lowest-price measures: the 20 days before the note date or the 20 trading days before conversion. The claim's shorter wording is consistent with that.
Confirmed in the source:
- On August 21, 2018, CleanSpark issued and sold a convertible promissory note to EMA Financial, LLC.
- The note's principal amount was $225,000.
- The note was due May 21, 2019.
- The note bore interest at 12% per annum.
- The note was convertible into CleanSpark common stock at 70% of the lowest trading price during a prior 20-day period.
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357718000437/mainbody.htm) in full (4,827 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 8-K/A filed 2018-09-25
Quote: “On August 21, 2018 we entered into a Securities Purchase Agreement ("SPA") with EMA Financial, LLC, a Delaware limited liability company ("Purchaser"), pursuant to which we issued and sold to the Purchaser a convertible promissory note, dated August 21, 2018 in the principal amount of $225,000 (the "Note"). The Note, which is due on May 21, 2019, bears interest at the rate of 12% per annum.”