NON INVASIVE MONITORING SYSTEMS INC /FL/ 8-K

What Happened

• Non-Invasive Monitoring Systems, Inc. (NIMS) announced in an 8-K that on May 7, 2026 it entered into two promissory notes totaling $300,000 with related parties. One note is for $200,000 payable to Frost Gamma Investments Trust (controlled by Dr. Phillip Frost, a NIMS director and >10% beneficial owner) and the other is for $100,000 payable to Jane Hsiao (Chair of the Board, Interim CEO, and >10% beneficial owner).
• Each note carries an interest rate of 11% per annum, with interest payable at maturity on June 30, 2026. Both notes may be prepaid without penalty. The full note terms are attached as Exhibits 10.1 and 10.2 to the filing.

Key Details

• Total principal: $300,000 ( $200,000 to Frost Gamma; $100,000 to Jane Hsiao ).
• Date signed: May 7, 2026; maturity date: June 30, 2026.
• Interest: 11% per annum, payable at maturity; prepayment allowed without penalty.
• Counterparties are related parties: Dr. Phillip Frost (board member, >10% holder) and Jane Hsiao (Chair/Interim CEO, >10% holder).

Why It Matters

• This filing documents short-term related-party borrowing that increases the company’s near-term liabilities and cash obligations (interest + principal due by June 30, 2026).
• Related-party nature and short maturity are material for governance and liquidity monitoring; investors should note the quick payback timeline and disclosed interest cost when assessing near-term cash needs.
• The notes’ full terms are available in the exhibits if investors want more detail on rights, covenants, or repayment provisions.