PositiveID Corporation (OTCPK:PSID) announced that it has entered into a securities purchase agreement with existing accredited investor PowerUp Lending Group, Ltd. for a private placement of a convertible promissory note for gross proceeds of $53,000 on August 21, 2017. The note carries a fixed coupon of 8% per annum, issued at par, and would mature on May 30, 2018. The note will be convertible into company’s common stock at a price equal to 65% of the average of the lowest five closing bid prices of the common stock. This note may not be prepaid in whole or in part. The company has received net proceeds of $50,000. The company reimbursed the buyer's legal fees and due diligence fee to $3,000.