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
Issued a $225,000 convertible promissory note with 12% annual interest, due May 21, 2019, convertible at 70% of lowest trading price
Source (primary)
CleanSpark 8-K filed 2018-09-11 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “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, 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 states the $225,000 principal, 12% annual interest, May 21, 2019 maturity, and a conversion price of 70% of the lowest trading price over a 20-day lookback. The claim simplifies the 'lesser of' two lookback periods, but this is accurate.
Confirmed in the source:
- CleanSpark issued a convertible promissory note to EMA Financial, LLC
- The note's principal amount was $225,000
- The note bears interest at 12% per annum
- The note is due on May 21, 2019
- The note converts at 70% of the lowest trading price (the lesser of two 70%-of-lowest-trading-price calculations over 20-day periods)
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357718000416/mainbody.htm) in full (5,488 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 8-K filed 2018-09-11
Quote: “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, which is due on May 21, 2019, bears interest at the rate of 12% per annum.”