Amendment to Annual Report — Form 10-K Filing Table of Contents
Document/ExhibitDescriptionPagesSize
1: 10-K/A Amendment to Annual Report HTML 80K
6: EX-10.55 Material Contracts HTML 21K
7: EX-10.56 Material Contracts HTML 26K
2: EX-31 Certification Pursuant to Rule 13A-14(A)/15D-14(A) HTML 22K
Certifications Section 302 of the Sarbanes-Oxly
Act of 2002
3: EX-31 Certification Pursuant to Rule 13A-14(A)/15D-14(A) HTML 22K
Certifications Section 302 of the Sarbanes-Oxly
Act of 2002
4: EX-32 Certificate Pursuant to Section 18 U.S.C. Pursuant HTML 20K
to Section 906 of the Sarbanes-Oxley Act of 2002
5: EX-32 Certificate Pursuant to Section 18 U.S.C. Pursuant HTML 20K
to Section 906 of the Sarbanes-Oxley Act of 2002
14: R1 Document and Entity Information HTML 57K
15: R2 Balance Sheets HTML 113K
16: R3 Balance Sheets (Parenthetical) HTML 27K
17: R4 Statements of Operations HTML 74K
18: R5 Statements of Changes in Stockholders' Deficit HTML 37K
19: R6 Statements of Cash Flows HTML 84K
20: R7 Basis of Presentation & Business HTML 24K
21: R8 Management Plans HTML 25K
22: R9 Summary of Significant Accounting Policies HTML 77K
23: R10 Property and Equipment HTML 32K
24: R11 Capitalization of Software for Resale HTML 20K
25: R12 Notes Payable - Current HTML 40K
26: R13 Long-Term Obligations HTML 94K
27: R14 Cares Act HTML 24K
28: R15 Stock and Stock Option Plans HTML 24K
29: R16 Stock Option Agreements and Transactions HTML 58K
30: R17 Income Taxes HTML 63K
31: R18 Employee Retirement Plans HTML 25K
32: R19 Lease HTML 27K
33: R20 Related Party Accrued Interest Payable HTML 22K
34: R21 Subsequent Event HTML 23K
35: R22 Summary of Significant Accounting Policies HTML 95K
(Policies)
36: R23 Summary of Significant Accounting Policies HTML 32K
(Tables)
37: R24 Property and Equipment (Tables) HTML 31K
38: R25 Notes Payable - Current (Tables) HTML 38K
39: R26 Long-Term Obligations (Tables) HTML 75K
40: R27 Stock Option Agreements and Transactions (Tables) HTML 54K
41: R28 Income Taxes (Tables) HTML 62K
42: R29 Lease (Tables) HTML 27K
43: R30 Management Plans (Details Narrative) HTML 34K
44: R31 Summary of Significant Accounting Policies HTML 27K
(Details)
45: R32 Summary of Significant Accounting Policies HTML 47K
(Details 1)
46: R33 Summary of Significant Accounting Policies HTML 28K
(Details Narrative)
47: R34 Property and Equipment (Details) HTML 37K
48: R35 Property and Equipment (Details Narrative) HTML 21K
49: R36 Capitalization of Software for Resale (Details HTML 28K
Narrative)
50: R37 Notes Payable - Current (Details) HTML 27K
51: R38 Notes Payable - Current (Details 1) HTML 23K
52: R39 Long-Term Obligations (Details) HTML 42K
53: R40 Long-Term Obligations (Details 1) HTML 37K
54: R41 Long-Term Obligations (Details 2) HTML 39K
55: R42 Stock and Stock Option Plans (Details Narrative) HTML 27K
56: R43 Stock Option Agreements and Transactions (Details) HTML 30K
57: R44 Stock Option Agreements and Transactions (Details HTML 64K
1)
58: R45 Stock Option Agreements and Transactions (Details HTML 23K
Narrative)
59: R46 Income Taxes (Details) HTML 33K
60: R47 Income Taxes (Details 1) HTML 38K
61: R48 Income Taxes (Details 2) HTML 38K
62: R49 Income Taxes (Details Narrative) HTML 24K
63: R50 Employee Retirement Plans (Details Narrative) HTML 21K
64: R51 Lease (Details) HTML 29K
65: R52 Related Party Accrued Interest Payable (Details HTML 20K
Narrative)
67: XML IDEA XML File -- Filing Summary XML 116K
66: EXCEL IDEA Workbook of Financial Reports XLSX 67K
8: EX-101.INS XBRL Instance -- imci-20201231 XML 994K
10: EX-101.CAL XBRL Calculations -- imci-20201231_cal XML 160K
11: EX-101.DEF XBRL Definitions -- imci-20201231_def XML 202K
12: EX-101.LAB XBRL Labels -- imci-20201231_lab XML 599K
13: EX-101.PRE XBRL Presentations -- imci-20201231_pre XML 475K
9: EX-101.SCH XBRL Schema -- imci-20201231 XSD 113K
68: ZIP XBRL Zipped Folder -- 0001654954-21-004264-xbrl Zip 88K
FOR
VALUE RECEIVED, INFINITE GROUP,
INC., a corporation with offices at 175 Sully’s Trail,
Suite 202, Pittsford, NY14534 (the “Borrower”), hereby
promises to pay to Donald Reeve, an individual residing at 7 Cross
Meadow Lane, Pittsford, NY14534, (the “Lender”), the
principal sum of three hundred twenty-eight thousand Dollars
($328,000.00), plus interest at the annual rate of 6 percent (6%),
The interest payments are due quarterly. First payment to be made
on April 1, 2021 and every three (3) months thereafter until the
note is retired. Principal payments of one hundred thousand dollars
($100,000.00) are to be made on January 1, 2022 and January 1,2023.
Term:
The
term of this note is thirty-six (36) months, due January 1, 2024.
The remaining balance of One hundred twenty-eight thousand Dollars
($128,000.00) will be due at that time.
Borrower shall have
the right, at its option and without prior notice to Lender, and
without penalty, to prepay all or any part of the outstanding
principal amount of this Note at any time.
Upon
the occurrence of any of the following events of default, the
entire indebtedness evidenced by this Note, including expenses of
collection, shall immediately become due and payable without
further notice, presentation or demand:
(i) The
failure to pay an installment within ten (10) days of its due date
following the Lender’s written notice of default and
demand;
(ii)
The bankruptcy of Borrower or the filing by Borrower of a voluntary
petition under any provision of the bankruptcy laws; the
institution of bankruptcy proceedings in any form against Borrower
which shall be consented to or permitted to remain undismissed or
unstayed for ninety (90) days; or the making by Borrower of an
assignment for the benefit of creditors;
(iii)
The taking of any judgment against Borrower, which judgment is not
paid in accordance with its terms, satisfied, discharged, stayed or
bonded within ninety (90) days from the entry thereof;
or
(iv)
The assignment of this Note by Borrower, provided, however, that
Borrower may assign this Note to any person or entity that
controls, is controlled by or is under common control with,
Borrower.
No
failure on the part of Lender to exercise, and no delay in
exercising, any of the rights provided for herein, shall operate as
a waiver thereof, nor shall any single or partial exercise by
Lender of any right preclude any other or future exercise thereof
or the exercise of any other right.
Lender
shall not, without the express prior written consent of Borrower,
assign, sell, gift or otherwise transfer this Note to any third
party, provided, however, that Lender may assign this Note to any
person or entity that controls, is controlled by or is under common
control with, Lender without the prior consent of
Borrower.
This
note and agreement shall be interpreted and construed according to,
and governed by, the laws of the State of New York, excluding any
laws that might direct the application of the laws of another
jurisdiction. All actions or suits in law or equity arising out of
or related to this Note and Agreement shall be litigated in Supreme
Court Monroe County, New York and shall not be
removed.
Borrower
agrees to pay all costs and expenses incurred by Lender in
enforcing this Note, including without limitation all reasonable
attorneys’ fees and expenses incurred by Lender.
IN WITNESS WHEREOF,
Borrower has caused this Note to be executed and delivered as of
the date set forth above.
