Company: AGTX
Filing Date: 2025-02-18
Form Type: 10-Q
Source: 0001477932-25-001090
Chunk: 11

Company: Agentix Corp.
Filing Date: 2025-02-18
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 balance sheet. These advances are unsecured, non-interest bearing, and with no formal terms of repayment. Gray’s Peak Capital During the nine months ended December 31, 2024 and 2023, Gray’s Peak Capital (“Gray’s Peak”), a company founded by a shareholder of the Company, made advances to the Company to cover certain operating expenses. These advances are unsecured, non-interest bearing, with no formal terms of repayment. As of December 31, 2024 and March 31, 2024, the amounts due Gray’s Peak for these advances were $289,589 and $260,620, respectively, and was included in accounts payable – related parties on the accompanying balance sheet. Gray’s Peak Capital – Note Payable On January 15, 2023 and June 15, 2023, the Company entered into two separate Mezzanine Secured Note (“Notes”) in the principal amount up to $200,000 and $500,000, respectively, with Gray’s Peak Private Credit LLC. For 30 days after the date of the Note, the Note bears interest at 7.5%. After the 30th day, the Note bears interest at 2% per month until paid in full. The Note matures and becomes due and payable in full on the 4th and 6th month anniversary of the loan (May 15, 2023 and December 15, 2023). The Company has the option of prepaying any part of the Note in whole or in part without any premium or penalty. The January 15, 2023 amounts borrowed were repaid in September 2023. The June 15, 2023 Note has been extended to June 30, 2025. The Notes are secured by a pledge by the Company of favor of Gray’s Peak of all of the assets and property of the Company, including without limitation all R&D tax credits, goods, tangible property, machinery, owned equipment, furniture, fixtures, vehicles, parts, accounts, deposit accounts, letter-of-credit rights, chattel paper, contract rights, documents, instruments, investment property, choses in action, general intangibles, goodwill and intellectual property, of any kind or nature, wherever located, in which Company has an interest now or in the future, and which are now existing or hereafter created or acquired, together with any and all additions, replacements, accessions and substitutions thereto or therefore, and any proceeds thereof