NanoFlex Power Corporation (OTCPK:OPVS) announced that it has entered into a securities purchase agreement with a returning accredited investor, Morningview Financial, LLC for gross proceeds of $75,000 on August 15, 2019. The company issued a convertible promissory note in the transaction. The note is issued at its par value. The note is convertible into common shares of the company. The interest rate on the note is fixed at the rate of 12% per annum. The note will mature on August 15, 2020. In case of default on the principal amount or the interest payment, shall bear an interest rate of 18% per annum. The note may be converted within the first 180 days post the issuance at a fixed price of $0.25 per share, after which the conversion price shall be equal to 60% of the lowest trading price during the 20 prior trading day. The note may be redeemed within 90 days from the date of closing of the transaction at a premium of 115%, if redeemed between 91st day and 120th, at a premium of 130%, if redeemed between 121st day and 150th day, at a premium of 135%, if redeemed between 151st day and 180th day, at a premium of 150%, and if redeemed after 180th day, there shall be no further right of redemption. The company received net proceeds of $69,750 after incurring due diligence and transaction costs of $5,250.