Sonic Foundry, Inc. (OTCPK:SOFO) announced that it will receive a round of funding from Mark Burish on January 4, 2019. The company will issue promissory notes in the transaction. The notes carries an interest rate of 9.25% per annum. Interest accrued on this note shall be due and payable on each December, or the next business day if such day is not a day on which the national banking associations are open for business, of each year during the term of this note. The then outstanding principal balance of this note, plus any then unpaid accrued interest shall be due and payable on January 4, 2020, or the next business day if such day is not a day on which the national banking associations are open for business. This note may be prepaid at any time without penalty. The transaction has been approved by the board of directors of the company. On the same date, the company has issued a promissory note for gross proceeds of $1,000,000 in its first tranche.