Genvor Inc: issues $30,000 in promissory notes to two directors

What happened The filing says the Company issued promissory notes on Oct 16, 2026 to two board members, Dr. Jesse Jaynes and Dr. Clayton Yates, in consideration of their funding on Oct 8, 2026. The Jaynes note reflects $20,000 funding (original principal due $20,408.16 after a 2% original issue discount) and the Yates note reflects $10,000 funding (original principal due $10,204.08 after a 2% original issue discount). Both notes accrue interest at 15% per annum, mature on Apr 8, 2027, and are not convertible into equity.

Key details

• Funding provided on Oct 8, 2026: $20,000 from Dr. Jesse Jaynes and $10,000 from Dr. Clayton Yates.
• Original issue discount: 2%, producing original principal amounts due of $20,408.16 and $10,204.08.
• Interest rate: 15% per annum; maturity date: Apr 8, 2027 (six months after funding).
• Notes are not convertible into equity.

Why it may matter The filing reports Item 1.01 (entry into a material definitive agreement) covering the promissory notes issued to the two directors. A filing does not show why the insider traded or why the company acted.