Socket Mobile Extends Convertible Notes Maturity Date

Socket Mobile has extended the maturity date of its $1.53 million secured subordinated convertible note financing from August 30, 2027 to August 30, 2027. The extension was approved by the company's disinterested directors due to the involvement of related parties, including key executives and board members. Despite financial challenges, technical indicators and recent corporate events provide some support, with potential growth opportunities in new markets and improved financial flexibility.