Monitor the company's share price relative to the $0.0035 minimum pricing threshold — if SSGC falls below this level, the ELOC becomes unusable, cutting off a key funding source. Watch for the filing of a registration statement for resale of conversion shares, which would enable the second tranche and accelerate dilution. The secured note's default provisions and the all-assets security interest create significant creditor protection that could constrain future financing options.
Price Chart
Executive Summary
SafeSpace Global Corp entered into a $10M equity line of credit (ELOC) with Crom Structured Opportunities Fund I, LP, selling shares at a 5-10% discount to market, and concurrently issued a secured convertible promissory note for up to $1.1M (first tranche $550K principal / $500K cash proceeds, net of fees). The note is secured by substantially all company assets via a security agreement. The combination of a heavily dilutive ELOC and secured debt signals acute capital needs and potential distress, as the company is raising cash at deeply discounted prices while pledging all assets.
Key Financial Metrics
Key Facts
- Equity purchase agreement (ELOC) for up to $10,000,000 of common stock, with shares sold at 90% of lowest traded price (or 95% of VWAP if on an eligible market)
- Secured promissory note with aggregate principal up to $1,100,000; first tranche of $550,000 principal issued for $500,000 purchase price (net of $10K legal fees and $37.5K placement agent fees)
- Note carries 10% original issue discount (OID) and 10% interest charge; second tranche of $550K principal available upon conditions including registration statement effectiveness
- Security agreement grants first-priority security interest in substantially all assets of the company and its subsidiaries
- As of September 18, 2026, the company had 200,364,512 shares outstanding (per the securities purchase agreement) — the ELOC could add significant dilution
- Minimum pricing condition for ELOC draws: lowest traded price must exceed $0.0035 per share over prior 10 trading days
- Alpine Securities Corporation acted as placement agent, receiving $37,500 per tranche
- The ELOC includes a cooldown period and a beneficial ownership limitation of 4.99% for the investor
Financial Impact
Immediate cash infusion of ~$452,500 net from the first tranche of the note ($500K purchase price minus $10K legal fees and $37.5K placement agent fees). The ELOC provides up to $10M in potential future funding but at heavily dilutive prices (90-95% of market). The secured note adds $1.1M of senior secured debt with 10% OID and 10% interest.
Risk Factors
- Heavy dilution from ELOC draws at 90-95% of market price — each draw increases share count and depresses price
- Secured debt with all-assets lien subordinates existing and future unsecured creditors
- Second tranche of note ($550K additional principal) conditioned on registration statement effectiveness — if delayed, company may face liquidity shortfall
- 10% OID and 10% interest charge on the note represent expensive financing costs
- Leak-out restriction on conversion share sales (greater of $20K or 20% of daily dollar volume) may limit investor's ability to exit, creating overhang
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-044166 |
| Exhibit: ex10-3.htm | 0001493152-26-044166 |
| Exhibit: ex10-4.htm | 0001493152-26-044166 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 24, 2026 4w ago | 8-K | $0.0850 $0.0700 | ▲ +17.65% | ▲ +16.17% | $0.0700 (+17.65%) |
Jun 29, 2026 17w ago | 8-K | $0.1080 $0.0959 | ▼ −11.20% | ▼ −10.41% | $0.0700 (−35.19%) |
May 18, 2026 23w ago | 8-K | $0.1350 $0.1001 | ▲ +25.85% | ▲ +26.84% | $0.0700 (+48.15%) |
May 1, 2026 25w ago | 8-K | $0.1390 $0.1716 | ▲ +23.45% | ▲ +18.17% | $0.0700 (−49.64%) |
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