Non-Invasive Monitoring Systems (OTCMKTS:NIMU) Enters Into Promissory Note Agreement with Frost Gamma Investments Trust

Non-Invasive Monitoring Systems, Inc. recently disclosed on January 23, 2025, that it entered into a notable financial agreement. The company secured a Promissory Note with Frost Gamma Investments Trust for a principal amount of $40,000. This trust, controlled by Dr. Phillip Frost, who beneficially owns over 10% of the common stock of Non-Invasive Monitoring Systems, Inc., offered the note.

Under the terms of the agreement, Non-Invasive Monitoring Systems, Inc. will pay an interest rate of 11% per annum on the promissory note, with the total amount payable upon the maturity date of July 31, 2025. However, the note may be prepaid before the Maturity Date without incurring any penalty fees.

The financial arrangement with Frost Gamma Investments Trust marks a significant step for Non-Invasive Monitoring Systems, Inc. as it aims to strengthen its financial standing and explore growth opportunities. The complete terms of the agreement can be found in the Frost Gamma Note, attached to the filing as Exhibit 10.1.

This development represents a strategic move for Non-Invasive Monitoring Systems, Inc. and highlights its commitment to financial sustainability and growth in the industry.

In the financial filings, the company fell under the category of an OTC Pink stock, denoted by the trading symbol NIMU. The Promissory Note agreement with Frost Gamma Investments Trust falls under Item 1.01, representing a material definitive agreement for the company.

With this recent financial arrangement, Non-Invasive Monitoring Systems, Inc. is poised to capitalize on new opportunities and enhance its position in the market.

Please note that this summary is a concise overview of the key points of the agreement and does not cover all the specific details. For a comprehensive understanding of the agreement terms, please refer to the original document attached as Exhibit 10.1 in the filing.

In the realm of financial statements and exhibits, this agreement was categorized under Item 9.01 Financial Statements and Exhibits, detailed as Exhibit 10.1, the Promissory Note of Non-Invasive Monitoring Systems, Inc. with Frost Gamma Investments Trust.

This move signals potential growth and strategic financial planning for Non-Invasive Monitoring Systems, Inc. as it continues to navigate the market landscape and solidify its standing within the industry.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Non-Invasive Monitoring Systems’s 8K filing here.

Non-Invasive Monitoring Systems Company Profile

Non-Invasive Monitoring Systems, Inc does not have significant operations. Previously, it was involved in the research, development, manufacture, marketing, and sale of non-invasive, motorized, and whole body periodic acceleration platforms. The company was incorporated in 1980 and is based in Miami, Florida.