PositiveID Corporation (OTCPK:PSID) announced a private placement of a secured convertible promissory note for gross proceeds of $75,000 on January 8, 2018. The transaction included participation from returning investor M2B Funding Corp. The note carries a fixed coupon of 12% per annum. The company issued note at a discount of $3,125. The notes will mature on January 8, 2019 and is secured by all property of the company. The note may be converted by the investor at any time into shares of company’s common stock at a 37.5% discount to the lowest closing bid price for the company’s common stock. The note may be prepaid in nature. The company issued securities pursuant to exemption provided under Regulation D and Section 4(a)(2) of the Securities Act.