Auctus Fund $550,000 convertible note
Company: CleanSpark
What the later record shows
Not a promise: a reported event · happened July 11, 2018
The claim reports a convertible note that had already been issued and closed on July 11, 2018. No passage addresses its 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
CleanSpark issued a $550,000 convertible promissory note to Auctus Fund, LLC closed July 11, 2018, bearing 12% per annum interest and maturing 6 months from Issue Date, with 287,500 commitment shares issued
Source (primary)
CleanSpark 8-K filed 2018-07-17 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “the Company issued to the Purchaser a Convertible Promissory Note (the "Note") in the aggregate principal amount of $550,000...the Company has agreed to pay interest on the unpaid principal balance of the Note at the rate of twelve percent (12%) per annum...The Note has a maturity date of six months for each tranche funded...the Company issued to the Purchaser, as a commitment fee, 137,500 shares of its common stock (the "Returnable Shares") as well as 150,000 shares of its common stock (the "Non-Returnable Shares")”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The filing establishes every element of the claim. Two details give context: the six-month maturity applies to each tranche funded, and only $225,000 (less $26,000 in fees) was paid at closing. Also, 137,500 of the 287,500 commitment shares must be returned if the note is repaid within 180 days.
Confirmed in the source:
- CleanSpark issued a convertible promissory note to Auctus Fund, LLC
- The note's aggregate principal amount is $550,000
- The transaction closed on July 11, 2018, when the closing conditions, including funding, were fulfilled
- The note bears interest at 12% per annum
- The note matures six months after funding
- CleanSpark issued 287,500 shares as a commitment fee (137,500 Returnable Shares plus 150,000 Non-Returnable Shares)
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357718000318/mainbody.htm) in full (7,837 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 8-K filed 2018-07-17
Quote: “the Company issued to the Purchaser a Convertible Promissory Note (the "Note") in the aggregate principal amount of $550,000...the Company has agreed to pay interest on the unpaid principal balance of the Note at the rate of twelve percent (12%) per annum...The Note has a maturity date of six months for each tranche funded...the Company issued to the Purchaser, as a commitment fee, 137,500 shares of its common stock (the "Returnable Shares") as well as 150,000 shares of its common stock (the "Non-Returnable Shares")”