PositiveID Corporation (OTCPK:PSID) announced a private placement of a convertible promissory note for gross proceeds of $100,000 on February 2, 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 February 2, 2019. 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.