NanoFlex Power Corporation (OTCPK:OPVS) announced a private placement of convertible promissory note for gross proceeds of $58,000 on December 11, 2018. The transaction included participation from existing investor JSJ Investments Inc. The note bears a fixed interest rate of 12% and would mature on December 11, 2019. In the event of default, the note bears a coupon rate of 18% per annum. The note is issued at a discount of 4.92%. The note is convertible into common shares of the company after 180 days following the closing at the variable conversion price at of $0.25 per share, if the conversion is made after the pre-payment date or pursuant to an event, a price equal to a 42% discount to the lowest trading price during the 20 trading days prior to the date of a notice of conversion. In the event of default, the note bears a coupon rate of 18%. The prepayment amount will be equal to 135% of the principal amount if paid under 90 days from the date of issuance, 140% if paid between 91 to 120 days; and if such prepayment is after the 121st date of the issuance of the note and prior to the pre-payment date, then such redemption premium is 145%, if such prepayment is made after date and before the maturity date, then such redemption premium is 150%. The Company received a net proceeds of $50,200.