Propanc Biopharma Inc
For the period ended Mar 31, 2024. Filed May 15, 2024.
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Mar 31, 2024 · Filed May 15, 2024
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Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities.
As of March 31, 2024, we were in default under certain loan issued to certain noteholder on October 3, 2019 for failure to pay an aggregate of $65,280 and $40,658 of principal and accrued interest, respectively, as of March 31, 2024, subsequent to their maturity date. Additionally, outstanding convertible note of $61,500 with a maturity date of February 23, 2023 and an outstanding promissory note of $132,000 dated on August 15, 2023 with maturity date of November 15, 2023 are in default as of March 31, 2024. We are currently in discussions with such loan and noteholders to extend such maturity date. See “Note 5 and 6” to our unaudited condensed consolidated financial statements in Part I of this Quarterly Report for additional information.
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