Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 79

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 79
---
3.1million and the present value as $2.5million.

This financial liability
is measured on Level 3, the fair value is derived using a discounted cash flow approach. The discount rate applied to the obligation was
11.64% (2023: n/a).

A 1% increase or decrease
in the discount rate would decrease or increase the liability by approximately £0.03 million (2023: n/a) and £0.03 million
(2023: n/a), respectively. An increase in the liability would result in a loss in the revaluation of financial instruments, while a decrease
would result in a gain.

There were no transfers
between Level 1 and 2 in the period.

17 Borrowings

  Schedule of borrowings                             
  Current                                            
  Promissory note             430        –        –  
  Lease liabilities           179      169      161  
  Total                       609      169      161  
  Non-current                                        
  Lease liabilities           118      295      463  
  Total                       118      295      463  

Book values approximate to fair value
at 31 December 2024, 2023 and 2022.

Promissory note

In
December 2024 the Company issued a Promissory Note to C/M Capital Master Fund, LP in the aggregate principal amount of $600,000 at a 10%
original issue discount. The Note is an unsecured obligation of the Company and bears interest at an annual rate of 5%, which may be increased
under certain circumstances, and has a maturity date of one year from the Issuance Date. The Note includes a monthly repayment schedule,
with the entire principal amount of the Note, plus accrued and unpaid interest, due and payable by the Company on the date that is twelve
months from the Issuance Date. The Note may be prepaid prior to the Maturity Date without penalty. Additionally, prior to the Maturity
Date and while the Note remains outstanding, upon the occurrence of each and every bona fide transaction or series of transactions conducted
by the Company wherein the principal purpose of the Company is to raise capital, pursuant to which the Company issues and sells securities
for an amount of gross proceeds equal to or greater than $500,000, the Company shall be obligated to utilize 25% of the gross proceeds
from such Financing Event to prepay the Note, which repayment shall be due concurrently or immediately following the closing