The company, known for its electromedical and electrotherapeutic apparatus, has provided a brief overview of the agreement in its SEC filing, suggesting that the note may be part of a broader strategic financial plan. The full terms of the note are outlined in the attached Exhibit 10.1 of the filing.
This transaction demonstrates the ongoing relationship between NIMS and Dr. Frost, who has previously provided financial support to the company. With a return on assets of -92.31%, the funding is expected to provide the company with additional working capital to continue its operations and development efforts. For deeper insights into NIMU's financial health and 15 additional ProTips, visit InvestingPro.
The note carries an 11% annual interest rate, with the full amount due by the maturity date of July 31, 2025. NIMS has the option to pay off the note early without incurring any penalties. This financial move is detailed in a recent filing with the Securities and Exchange Commission (SEC). InvestingPro analysis shows the company operates with total debt of $0.56 and a concerning current ratio of 0.05, indicating potential liquidity challenges.
The company, known for its electromedical and electrotherapeutic apparatus, has provided a brief overview of the agreement in its SEC filing, suggesting that the note may be part of a broader strategic financial plan. The full terms of the note are outlined in the attached Exhibit 10.1 of the filing.
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