Cycurion, Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 14, 2026
CYCU$2.470.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
11. Promissory Notes
- PROMISSORY NOTES
| Table 11.1: Details of Promissory Notes | ||||
|---|---|---|---|---|
| Principal Value | Unamortized Discount and Issuance Costs | Convertible Notes Carrying Balance | Weighted Average Interest Rate | |
| Balance as of December 31, 2024 | $2,498,369 | $(11,380) | $2,486,989 | 16.6% |
| Issuance | 690,558 | (77,358) | 613,200 | 13.5% |
| Repayment | (20,000) | — | (20,000) | 35.0% |
| Amortization | 36,667 | 21,297 | 57,964 | |
| Balance as of March 31, 2025 | 3,205,594 | (67,441) | 3,138,153 | 15.8% |
| Conversion to equity | (456,500) | — | (456,500) | 24.0% |
| Repayment | (50,000) | — | (50,000) | 24.0% |
| Amortization | — | 37,973 | 37,973 | |
| Balance as of June 30, 2025 | 2,699,094 | (29,468) | 2,669,626 | 14.3% |
| Repayment | (31,579) | — | (31,579) | 12.0% |
| Amortization | — | 20,616 | 20,616 | |
| Balance as of September 30, 2025 | 2,667,515 | (8,852) | 2,658,663 | 14.3% |
| Conversion to a convertible note | (166,666) | - | (166,666) | 10.0% |
| Amortization | — | 7,665 | 7,665 | |
| Balance as of December 31, 2025 | 2,500,849 | (1,187) | 2,499,662 | 14.3% |
| Amortization | — | 1,187 | 1,187 | |
| Balance as of March 31, 2026 | $2,500,849 | $— | $2,500,849 | 14.3% |
| Table 11.2: Details of Loans Payable | ||||
|---|---|---|---|---|
| March 31,2026 | December 31,2025 | Weighted Average Interest Rate | Maturity (Calendar Year) | |
| Note issued in 2017 | $250,000 | $250,000 | 4.0% | 2020 |
| Note issued in 2020 | 300,000 | 300,000 | 24.0% | 2021 |
| Note issued in 2021 | 400,000 | 400,000 | 24.0% | 2021 - 2022 |
| Notes issued in 2023 | 611,111 | 611,111 | 24.0% | 2023 |
| Notes issued in 2024 | 319,180 | 319,180 | 10.7% | 2025 |
| Notes issued in 2025 | 620,558 | 620,558 | 12.0% | 2025 -2026 |
| Funded loans payable | 2,500,849 | 2,500,849 | 17.3% | |
| Less: Unamortized debt-issuance costs and discounts | - | (1,187) | ||
| Total loans payable | $2,500,849 | $2,499,662 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.