Each one in plain English, with the numbers worked through for a shareholder.
15 July 2026capital raising announcement▼ Bad
This amendment to the May 8 filing adds a second financing that was left out of it. On May 5, 2026 HNO also sold Lambda Ventures, LLC a $67,500 convertible note and a warrant for 385,000 shares at $0.25, for $62,500 gross and about $57,625 net, on the same terms as the Monroe Street note. Each note converts at 60% of the lowest price in the prior 20 trading days, carries an 8% interest charge that is fully earned at issue, and matures May 5, 2027. Each is payable at 150% of principal and interest on default, which includes the market cap falling below $3 million. The filing also corrects the earlier Monroe Street figure: $62,500 was the gross amount, not the net. The Lambda Ventures name matches the $30 million equity line from May 1, so it is probably the same investor (inference), which would add convertible debt on top of that facility. This continues the pattern of small, discounted, dilutive notes. Each note carries a 20,000,000-share reserve minimum, though the filing's Monroe Street section states the reserve and the Lambda section is cut off.
Issued Monroe Street Capital Partners a $67,500 convertible note and a warrant for 385,000 shares for $62,500 gross, about $57,625 net after fees. The note converts at 60% of the lowest recent trading price.
Entered a new $30 million, 24-month equity line of credit with Lambda Ventures, allowing puts at 80% of the lowest recent trading price — steeper terms than the 90%-of-market GHS facility from 2023, suggesting weakened negotiating position.
Issued Jefferson Street Capital a $96,250 convertible note and a warrant for 385,000 shares for $87,500 gross, about $82,250 net after fees. A near-identical note was sold to Lambda Ventures two days later.
Sold a $150,000 convertible note (net $133,000) to CFI Capital LLC convertible at 60% of the lowest 20-day trading price — worsening to 50% if a DTC 'chill' is imposed or 45% on default — a classic toxic death-spiral structure.
CEO Donald Owens and HNO Green Fuels exchanged 245 million and 115 million common shares respectively for 245,000 and 115,000 shares of new Series B Convertible Preferred. This cut outstanding common shares by about 82% to roughly 74 million, though each preferred share can convert back into 1,000 common shares.
Now renamed HNO International, Inc., entered a $10 million equity line of credit with GHS Investments, allowing the company to sell stock at 90% of the lowest recent trading price over a 24-month period — a dilutive, market-price-linked financing facility, plus upfront commitment shares to GHS.
Borrowed $300,000 from TCA Global Credit Master Fund at 10% interest plus a 7.5% commitment fee and other charges, netting only $277,950 against a $331,500 repayment obligation due within six months — another expensive short-term facility.
Borrowed $250,000 from Vastani Trading Limited at 24% annual interest with a 3-month maturity and warrants struck at a 30% discount to market, plus escalating penalty warrants for every month the note went unpaid past maturity — expensive, high-risk short-term financing.
Four unregistered share issues in a fortnight totalling 582,500 shares: 12,500 and 350,000 to consultants for entering consulting agreements, and 100,000 and 120,000 under stock purchase agreements to offshore buyers.
Now renamed Clenergen Corporation, issued 57.4 million shares as compensation to 22 individuals for services rendered and to be rendered — a large stock-for-services issuance rather than a cash raise.
