Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off Balance Sheet Arrangement of a Registrant.

On November 15, 2019, GelTech Solutions, Inc. (the "Company") issued Mr. Michael Reger, the Company's Chairman of the Board, Chief Executive Officer and largest shareholder, a $120,000 secured promissory note (the "Note") in consideration for a loan of $120,000. The Note provides for: (i) quarterly interest payments in an amount equal to LIBOR (or, if LIBOR not published, the inter-bank rate offered by the London Branch of Bank Of America N.A.) plus 2.0% (not to exceed 7%), (ii) a maturity date of June 30, 2022 and (iii) a security interest in all of the Company's assets. The Note is not convertible into any of the Company's capital stock.

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