- TurnOnGreen, Inc. (TOGI) issued a **Secured Convertible Promissory Note** to SJC Lending LLC on **October 29, 2025**, with an initial **principal amount of $440,000** for a **purchase price of $400,000**.  **[1349706_0001214659-25-015513_ex4_1.htm:0]** **[1349706_0001214659-25-015513_i10292518k.htm:2]** 
- The note carries a **12% annual interest rate**, matures on **October 29, 2026**, and was issued with a **10% original issuance discount**.  **[1349706_0001214659-25-015513_ex4_1.htm:0]** **[1349706_0001214659-25-015513_ex4_1.htm:1]** 
- It is convertible into common stock at a **conversion price** that is the greater of **$0.035 per share** or a 20% discount to the lowest volume-weighted average price (VWAP) during the ten trading days prior to conversion.  **[1349706_0001214659-25-015513_ex4_1.htm:1]** 
- The agreement outlines **seven tranche closings**, with the initial tranche completed. The total potential principal amount from all tranches is **$1,650,000**, contingent on conditions such as the filing and effectiveness of an SEC registration statement.  **[1349706_0001214659-25-015513_i10292518k.htm:2]** 
- The company is subject to **negative covenants** restricting actions such as incurring additional indebtedness, declaring dividends, or issuing additional equity until the notes are repaid or fully converted.  **[1349706_0001214659-25-015513_i10292518k.htm:2]** **[1349706_0001214659-25-015513_ex10_1.htm:36]**

TurnOnGreen (TOGI)