Insig AI PLC - London-based data science and machine learning - Says that it has agreed to revised terms with Richard Bernstein, the convertible loan holder, as announced on September 12 for GBP750,000. Insig AI explained at the time that it had agreed to a convertible loan because it needed further working capital over the short term and potentially the medium term. The company and Bernstein agree to extend the term of the convertible loan note agreement by six months to December 30. All other terms of the agreement remain unchanged.
Bernstein said: "As I see the company continuing to broaden both its product offering and engagement with potential strategic partners, I am happy to extend the terms of the convertible loan note agreement."
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By Will Neill, Alliance News reporter
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Insig Ai Plc (INSG)