Other DebtActive
AJB Promissory Notes (15-note facility)
CRCW-AJB
$0.00▲ 0.00%
BTC Holdings
4.26 BTC
Total Debt
$3.21M
Leverage
1006.7%
mNAV
17.38x
Outstanding
$3.01M
Issue date
2022-05-03
Principal
$3.01M
Coupon
—
Maturity
—
Conversion price
—
- Aggregate of 15 individual promissory notes to AJB Capital Investments LLC (2022–2025); accrued interest $751,516 at September 30, 2025. Predates the digital asset treasury.
- First AJB note dated May 3, 2022, $1,180,000 principal (purchase price $900,000, 10% original issue discount).
Terms & Documentation
Terms
- BTC strategy
- No
- Facility type
- Other
- Rate type
- Fixed
- Rate reference
- 18% per annum on event of default
- Collateral
- Secured — AJB first-priority security interest (subordinated to TMCF)
- Covenants
- Default-convertible into common stock; 18% interest and acceleration rights on event of default
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-09-30 | Issuance | $3.01M Aggregate of 15 AJB notes outstanding |
| 2022-05-03 | Issuance | $3.01M |
- 2025-09-30 — $3,013,290Note 6 — Note Payable
- 2022-05-03 — $3,013,290