Note converts to Common Stock when the company raises $1,500,000 in a qualified equity financing
Maturity Date: July 1, 2020
$5,000,000 Valuation Cap
20% Discount Rate
10% Annual Interest Rate*
*Annual Interest Rate subject to adjustment 10% bonus for StartEngine shareholders. See 10% Bonus below
Maximum $107,000 of Convertible Notes
Minimum $10,000 of Convertible Notes
What is a Convertible Note?
A convertible note offers you the right to receive shares of Common Stock in Security Biometrics Corporation. The number of shares you will receive in the future will be determined at the next equity round in which the Company raises at least $1,500,000 in qualified equity financing. The highest conversion price per share is set based on a $5,000,000 Valuation Cap or if less, then you will receive a 20% discount on the price the new investors are purchasing. You also receive 10% interest per year added to your investment. When the maturity date is reached, if the note has not converted then you are entitled to receive your investment and interest back from the company.
Security Biometrics Corporation
8 Faneuil Hall North Marketplace 3rd FL. Boston, Massachusetts 02109
Description of Business
Manufacturer Of Biometric Products / Home of the Biometric Wallet Device
Type of Security Offered
Minimum Investment Amount (per investor)
$250-$300 Investment receive a cube purse, key chain tracker
$301-$499 Investment receive $50 gift card towards products
$500-$749 Investment receive $100 gift card towards products
$750-$1,000 Investment receive a free designer Biometric Wallet
$1,001-1,500 Investment receive a free pair of designer Biometric Wallets
*All perks occur after the offering is completed.
The 10% Bonus for StartEngine Shareholders
Security Biometrics Corporation will offer a 10% bonus on the annual interest rate for all investments that are committed by StartEngine Crowdfunding Inc. shareholders (with ≥ $1,000 invested in the StartEngine Reg A+ campaign) within 24 hours of this offering going live.
StartEngine shareholders who have invested $1,000+ in the StartEngine Reg A+ campaign will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering if they invest within a 24-hour window of their campaign launch date. For example, if invest in the first 24 hours, your annual interest rate will be 11% instead of 10%.
This 10% Bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors receive their countersigned StartEngine Crowdfunding Inc. subscription agreement.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include additional equity funding efforts but are not limited to the Start Engine platform as others are being considered if we need to obtain additional funding
Most recent fiscal year-end:
Prior fiscal year-end:
Cash And Cash Equivalents
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.