GROSSO CHRISTOPHER G 4
4 · RADNOSTIX INC · Filed Jun 30, 2026
Research Summary
AI-generated summary of this filing
Radnostix (INIS) 10% Owner Christopher Grosso Buys $500K Convertible Note
What Happened
Christopher G. Grosso, a 10% owner of Radnostix, purchased a $500,000 convertible promissory note from Kershner, Grosso & Co. on 2026-06-26. The instrument is a derivative (a convertible note) rather than an immediate share purchase; it converts into common stock at $0.07 per share (which equates to approximately 7,142,857 shares based on principal only). The note bears simple interest at 5% per annum, with the company able to pay interest in cash or in kind (PIK) for the first two years.
Key Details
- Transaction date: 2026-06-26; Transaction code: P (Purchase of a derivative).
- Instrument/value: $500,000 convertible promissory note; conversion price $0.07 per share.
- Approximate shares on conversion (principal only): 7,142,857 shares (accrued interest not included).
- Interest: 5% simple interest per year; interest may be paid in cash or PIK for first two years (PIK increases principal for future interest).
- Company right: Radnostix may force conversion if the 30-day VWAP exceeds $0.12; maturity date shown in the filing text appears truncated.
- Related-party note: Lender identified as Kershner, Grosso & Co. (see footnote).
- Shares owned after transaction: Not specified in this Form 4 filing.
- Filing timeliness: Filing does not indicate a late filing.
Context
This is a purchase of a convertible debt instrument (derivative), not an outright stock purchase. If and when converted, the note would result in a large number of common shares at the stated conversion price; accrued interest and any anti-dilution adjustments could change the final share count. As a 10% owner, Grosso is a significant holder—these transactions are disclosures of related-party financing, not routine executive stock buys/sells.
Insider Transaction Report
- Purchase
Convertible Promissory Note
[F1][F2][F3]2026-06-26$500000.00/sh(indirect: By Kershner Grosso & Co.)Exercise: $0.07From: 2026-06-26Exp: 2031-06-30→ Common Stock (7,142,857 underlying)
Footnotes (3)
- [F1]Radnostix, Inc. (the "Company") entered into a convertible promissory note agreement (the "Note") with Kershner, Grosso & Co. ("Lender").The Note is in the principal amount of $500,000, bears simple interest at a fixed rate of 5% per annum with interest payable annually on each anniversary date of the Note. For the first two years, the Company may pay interest either in cash or in kind ("PIK Interest"). If the Company elects to PIK Interest, such PIK Interest is added to then outstanding principal for purposes of calculating future interest accruals. The Lender has the right to convert all or any portion of outstanding principal and accrued interest into shares of the Company's Common Stock at a conversion price of $0.07 per share subject to customary anti-dilution adjustments. The Company has the right to force conversion of the Note if the volume weighted-average closing price over thirty consecutive trading days is greater than $0.12 per share. The Note has a maturity date of June 3
- [F2]The number of shares underlying the Note reflects the conversion of $500,000 principal at $0.07 per share, rounded down to the nearest whole share (7,142,857 shares); accrued interest is not reflected. The common stock issuable upon conversion may vary based on accrued interest and any applicable adjustments.
- [F3]By Kershner, Grosso & Co., a company owned and controlled by the registrant.