Quanta, Inc. (OTCPK:QNTA) announced that it has entered into a securities purchase agreement with certain accredited investors for a private placement of convertible promissory notes for gross proceeds of $341,000 on April 27, 2020. The notes have an interest rate of 10% per annum and matures on December 31, 2020. The investors may, at their option, convert the convertible notes into shares of the company’s common stock at a conversion price equal to $0.05 per share. In connection with the issuance of the convertible notes, the company issued an aggregate of 705,000 shares of the company’s common stock as a commitment fee.