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QT Imaging Holdings, Inc. (NASDAQ:QTI) (the "Company"), a medical device company engaged in research, development, and commercialization of innovative body imaging systems, is pleased to announce strengthening of its financials, by clearing its short-term liabilities and by forecasting solid revenue growth in 2025 and 2026.
The Company announced amendments to both its convertible promissory note with YA II PN, Ltd. (the "YA Investor," and such promissory note, the "YA Note") and to its convertible promissory note with Funicular Funds, LP (the "Cable Car Investor," and such promissory note, the "Cable Car Note"), each of which was entered into on January 9, 2025. With the amendments of YA Note and Cable Car Note, both notes are maturing on March 31, 2026, by which date the outstanding principal balance and the annual interest of 6% are due. No payments whatsoever are to be made by the Company till that date. Comprehensive details of both agreements are included in the Form 8-K filed by the Company with the SEC on January 10, 2025.
Additionally, the Company forecasts revenue of $18M in 2025 and $27M in 2026, a significant increase from 2024 revenue.
Posted In: QTI
