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Allied Corp. – ‘10-K’ for 8/31/22 – ‘EX-10.48’

On:  Wednesday, 12/14/22, at 4:34pm ET   ·   For:  8/31/22   ·   Accession #:  1477932-22-9283   ·   File #:  0-56002

Previous ‘10-K’:  ‘10-K’ on 12/14/21 for 8/31/21   ·   Next:  ‘10-K/A’ on 2/8/23 for 8/31/22   ·   Latest:  ‘10-K’ on 12/14/23 for 8/31/23   ·   13 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/14/22  Allied Corp.                      10-K        8/31/22  108:8.2M                                   Discount Edgar/FA

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.99M 
 2: EX-10.36    Convertible Promissory Note                         HTML     27K 
 3: EX-10.37    Convertible Promissory Note                         HTML     27K 
 4: EX-10.38    Convertible Promissory Note                         HTML     27K 
 5: EX-10.39    Convertible Promissory Note                         HTML     28K 
 6: EX-10.40    Convertible Promissory Note                         HTML     27K 
 7: EX-10.41    Convertible Promissory Note                         HTML     27K 
 8: EX-10.42    Convertible Promissory Note                         HTML     27K 
 9: EX-10.43    Convertible Promissory Note                         HTML     27K 
10: EX-10.44    Convertible Promissory Note                         HTML     27K 
11: EX-10.45    Convertible Promissory Note                         HTML     27K 
12: EX-10.46    Convertible Promissory Note                         HTML     28K 
13: EX-10.47    Convertible Promissory Note                         HTML     27K 
14: EX-10.48    Convertible Promissory Note                         HTML     27K 
15: EX-10.49    Convertible Promissory Note                         HTML     80K 
16: EX-10.50    Convertible Promissory Note                         HTML     27K 
17: EX-21       List of Subsidiaries                                HTML     24K 
18: EX-31.1     Certification -- §302 - SOA'02                      HTML     30K 
19: EX-31.2     Certification -- §302 - SOA'02                      HTML     30K 
20: EX-32.1     Certification -- §906 - SOA'02                      HTML     26K 
21: EX-32.2     Certification -- §906 - SOA'02                      HTML     26K 
27: R1          Cover                                               HTML     86K 
28: R2          Consolidated Balance Sheets                         HTML    122K 
29: R3          Consolidated Balance Sheets (Parenthetical)         HTML     43K 
30: R4          Consolidated Statements of Operations and           HTML    119K 
                Comprehensive Loss                                               
31: R5          Consolidated Statements of Stockholders Equity      HTML     92K 
                (Deficiency)                                                     
32: R6          Consolidated Statements of Cash Flows               HTML    123K 
33: R7          Nature of operations reverse takeover transaction   HTML     39K 
                and going concern                                                
34: R8          Significant accounting policies                     HTML     67K 
35: R9          Inventory                                           HTML     35K 
36: R10         Deposits and advances                               HTML     36K 
37: R11         Property plant and equipment                        HTML     68K 
38: R12         Intangible assets                                   HTML     42K 
39: R13         Leases                                              HTML     52K 
40: R14         Loans payable                                       HTML     31K 
41: R15         Secured convertible notes payable                   HTML    152K 
42: R16         Equity                                              HTML     50K 
43: R17         Related party transactions and balances             HTML     44K 
44: R18         Financial risk factors                              HTML     41K 
45: R19         Capital management                                  HTML     27K 
46: R20         Commitments                                         HTML     29K 
47: R21         Share purchase warrants                             HTML     60K 
48: R22         Stock Options                                       HTML     52K 
49: R23         Noncash activities                                  HTML     39K 
50: R24         Segment disclosure                                  HTML     44K 
51: R25         Income taxes                                        HTML     43K 
52: R26         Subsequent events                                   HTML     34K 
53: R27         Significant accounting policies (Policies)          HTML    106K 
54: R28         Significant accounting policies (Tables)            HTML     28K 
55: R29         Inventory (Tables)                                  HTML     34K 
56: R30         Deposits and advances (Tables)                      HTML     35K 
57: R31         Property plant and equipment (Tables)               HTML     66K 
58: R32         Intangible assets (Tables)                          HTML     40K 
59: R33         Leases (Tables)                                     HTML     50K 
60: R34         Related party transactions and balances (Tables)    HTML     40K 
61: R35         Financial risk factors (Tables)                     HTML     36K 
62: R36         Share purchase warrants (Tables)                    HTML     62K 
63: R37         Stock Options (Tables)                              HTML     53K 
64: R38         Noncash activities (Tables)                         HTML     37K 
65: R39         Segment disclosure (Tables)                         HTML     45K 
66: R40         Income Taxes (Tables)                               HTML     40K 
67: R41         Nature of operations reverse takeover transaction   HTML     50K 
                and going concern (Details Narrative)                            
68: R42         Significant accounting policies (Details)           HTML     34K 
69: R43         Significant accounting policies (Details            HTML     31K 
                Narrative)                                                       
70: R44         Inventory (Details)                                 HTML     34K 
71: R45         Inventory (Details Narrative)                       HTML     30K 
72: R46         Deposits and advances (Details)                     HTML     33K 
73: R47         Deposits and advances (Details Narrative)           HTML     36K 
74: R48         Property plant and equipment (Details)              HTML     59K 
75: R49         Intangible assets (Details)                         HTML     38K 
76: R50         Intangible assets (Details Narrative)               HTML     36K 
77: R51         Leases (Details)                                    HTML     32K 
78: R52         Leases (Details 1)                                  HTML     27K 
79: R53         Leases (Details 2)                                  HTML     31K 
80: R54         Leases (Details 3)                                  HTML     49K 
81: R55         Leases (Details Narrative)                          HTML     40K 
82: R56         Loans payable (Details Narrative)                   HTML     83K 
83: R57         Secured convertible notes payable (Details          HTML    382K 
                Narrative)                                                       
84: R58         Equity (Detail Narrative)                           HTML    248K 
85: R59         Related party transactions and balances (Details)   HTML     27K 
86: R60         Related party transactions and balances (Details    HTML     37K 
                1)                                                               
87: R61         Related party transactions and balances (Details    HTML     41K 
                Narrative)                                                       
88: R62         Financial risk factors (Details)                    HTML     36K 
89: R63         Financial risk factors (Details 1)                  HTML     34K 
90: R64         Financial risk factors (Details Narrative)          HTML     41K 
91: R65         Commitments (Details Narrative)                     HTML     32K 
92: R66         Share purchase warrants (Details)                   HTML     41K 
93: R67         Share purchase warrants (Details 1)                 HTML     81K 
94: R68         Stock options (Details)                             HTML     59K 
95: R69         Stock options (Details 1)                           HTML     35K 
96: R70         Stock options (Details Narrative)                   HTML     29K 
97: R71         Noncash activities (Details)                        HTML     44K 
98: R72         Segment disclosure (Details)                        HTML     70K 
99: R73         Segment disclosure (Details 1)                      HTML     30K 
100: R74         Income Taxes (Details)                              HTML     32K  
101: R75         Income Taxes (Details 1)                            HTML     35K  
102: R76         Income Taxes (Details Narrative)                    HTML     31K  
103: R77         Subsequent events (Details Narrative)               HTML     66K  
106: XML         IDEA XML File -- Filing Summary                      XML    173K  
104: XML         XBRL Instance -- alid_10k_htm                        XML   1.84M  
105: EXCEL       IDEA Workbook of Financial Reports                  XLSX    190K  
24: EX-101.CAL  XBRL Calculations -- alid-20220831_cal               XML    177K 
26: EX-101.DEF  XBRL Definitions -- alid-20220831_def                XML    576K 
23: EX-101.LAB  XBRL Labels -- alid-20220831_lab                     XML   1.14M 
25: EX-101.PRE  XBRL Presentations -- alid-20220831_pre              XML    919K 
22: EX-101.SCH  XBRL Schema -- alid-20220831                         XSD    289K 
107: JSON        XBRL Instance as JSON Data -- MetaLinks              397±   528K  
108: ZIP         XBRL Zipped Folder -- 0001477932-22-009283-xbrl      Zip    434K  


‘EX-10.48’   —   Convertible Promissory Note


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



 C: 

 

EXHIBIT 10.48

 

CONVERTIBLE PROMISSORY NOTE

 

March 29, 2022

 

PRINCIPAL AMOUNT: USD$500,000.00

DUE: September 30, 2022

 

FOR VALUE RECEIVED, the undersigned Allied Corp. (the “Borrower” or the “Company”), company incorporated under the laws of the State of Nevada, hereby promises to pay 0994091 BC Ltd (the “Lender”), at such address or at such other place as the Lender may from time to time designate by written notice to the Borrower, the principal amount of five hundred thousand ($500,000.00) DOLLARS, ON DEMAND at any time after 179 days from the date hereof (the “Principal Amount”), in lawful money of the United States of America, with simple interest at 10% per annum..

 

The Borrower may pre-pay the Principal Amount and any unpaid interest or any portion thereof at any time and from time to time without notice, further interest, bonus or penalty provided, however, that a minimum of six months interest shall be payable from the date hereof regardless of such repayment date.

 

At the option of Lender, this note is convertible at any time through that date which is 179 days from the date of issuance at a conversion price of $1.25 per share. Unless otherwise agreed in writing by both parties, at no time will the Lender convert any amount of this Note into common stock that would result in the Lender owning more than 9.9% of the common stock outstanding.

 

At the option of the Lender upon closing of any equity based financing for the Company, Lender may require the Company to redeem this Note (to the extent available as net proceeds from any such financing) through repayment of any and all principal amount remaining due together with any accrued but unpaid interest, without further interest, bonus or penalty provided, however, that a minimum of six months interest shall be payable from the date hereof through such redemption date.

 

The Company hereby grants to Lender a security interest in the Company’s collateral pursuant to the terms of that certain Security Agreement of even date herewith, a copy of which is attached as Exhibit A hereto (the “Security Interest”).

 

PRESENTMENT for payment, demand, protest and notice of dishonour and protest hereof are hereby waived.

 

THIS PROMISSORY NOTE is governed by and shall be interpreted pursuant to the laws of the State of Nevada and all federal laws of the United States of America applicable therein.

 

THIS PROMISSORY NOTE is not assignable by the Borrower without the prior written consent of the Lender.

 

ALLIED CORP.

 

By:

/s/ Calum Hughes         

Name:

Calum Hughes

Title:

Chief Executive Officer


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:12/14/22
9/30/22
For Period end:8/31/22NT 10-K
3/29/22
 List all Filings 


6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/14/23  Allied Corp.                      10-K        8/31/23   95:7.7M                                   Discount Edgar/FA
 3/08/23  SEC                               UPLOAD4/05/23    2:39K  Allied Corp.
 3/06/23  Allied Corp.                      10-K/A      8/31/22   92:8M                                     Discount Edgar/FA
 2/13/23  SEC                               UPLOAD4/05/23    2:42K  Allied Corp.
 2/08/23  Allied Corp.                      10-K/A      8/31/22   92:8M                                     Discount Edgar/FA
 2/03/23  SEC                               UPLOAD4/05/23    2:42K  Allied Corp.


7 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/23/21  Allied Corp.                      1-A/A                  5:2.5M                                   Discount Edgar/FA
 6/11/21  Allied Corp.                      1-A                    9:2.6M                                   Discount Edgar/FA
12/16/20  Allied Corp.                      10-K        8/31/20   24:8.5M                                   Discount Edgar/FA
10/07/20  Allied Corp.                      8-K:1,2,9   8/29/19    9:21M                                    Discount Edgar/FA
12/16/19  Allied Corp.                      10-KT       8/31/19   47:137M                                   Discount Edgar/FA
 9/10/19  Allied Corp.                      8-K:1,2,3,5 9/10/19    2:640K                                   Discount Edgar/FA
 5/28/13  Allied Corp.                      S-1                    5:726K
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Filing Submission 0001477932-22-009283   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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