Non-Invasive Monitoring Systems, Inc. announced a private placement of 2 promissory notes for gross proceeds of $150,000 on September 16, 2022. The transaction included participation from returning lender Frost Gamma Investments Trust for $75,000 and Jane Hsiao, Chairman and Interim CEO of the company for $75,000. The notes carry a coupon rate of 11% per annum which is payable on maturity date of October 4, 2023.

The notes may be prepaid in advance of the Maturity Date without penalty.