NanoFlex Power Corporation (OTCPK:OPVS) announced that it has entered into an agreement with returning investor EMA Financial LLC for a private placement of convertible promissory note for gross proceeds of $58,000 on May 17, 2019. The note was issued at a discount of $3,000(approximately 4.918%) on the principal amount of $61,000. The note bears an interest rate of 10% per annum, and has a maturity date of February 17, 2020. The investor may convert all or a portion of the outstanding principal amount of the note into common shares of company at a price equal to the lower of the lowest closing bid price during the 20 trading day period ending on the last complete trading date prior to the date of conversion and 60% of the lowest trading price during the prior consecutive 20 trading day period. If the company prepays the note within 90 days of its issuance, then it must pay all of the principal amount at a cash redemption premium of 135%. If such prepayment is made between the 91st day and the 180th day after the issuance of the note, then such redemption premium is 150%. After the 180th day following the issuance of the note, there shall be no further right of prepayment. Any amount of principal or interest on this note which is not paid when due, shall bear interest at the rate of 24% per annum from the due date thereof until the same is paid. The company has issued securities pursuant to exemption provided under Regulation D.