IFAN Financial, Inc. (OTCPK:IFAN) announced that it has issued a convertible promissory note for the gross proceeds of $100,000 on May 1, 2017. The company entered into securities purchase agreement with an accredited investor. The note carries interest rate of 10% per annum and has maturity period of one year. The note is convertible into common stock of the company at a conversion price equal to 55% of the lowest closing bid price of the common stock for the thirty trading days prior to conversion.