NanoFlex Power Corporation (OTCPK:OPVS) announced that it has entered into a securities purchase agreement with APG Capital Holdings, LLC for a private placement of a convertible promissory note for gross proceeds of $40,000 on December 7, 2018. The note bears a fixed interest rate of 12% per annum and matures on December 7, 2019. The note is convertible into common shares of the company during the first 180 days at a foxed conversion price of $0.25 per share, after 180 days following the closing at the conversion price per share shall be equal to 40% discount of the lowest trading price or the lowest closing bid from closing or conversion of the common stock during the 20 prior trading days. The prepayment amount will be equal to 135% of the principal amount if paid under 90 days from the date of issuance, 150% if paid between 91 to 180 days. After 180 days, the company has no right of prepayment. The company issued note at par. The company has received net proceeds of $38,000 in the transaction. The company paid legal fees of $2,000 as an issue expense to the investor.