Dogecoin Ventures, a subsidiary of House of Doge, issued an unsecured note of $1.4 million to lender Devlin DeFrancesco, bearing 10.7% annual interest and maturing on July 27, 2027. The principal repayment will be made through the delivery of 2,227,300 CleanCore shares, implying a value of approximately 62.9 cents per share, with interest payable in cash. These shares are already pledged to senior creditor Yorkville, meaning DeFrancesco cannot receive his shares until the secured debt is fully repaid. The SEC filing does not disclose the mechanism for releasing the shares or any price floor, leaving uncertain how the lender will recover his investment. House of Doge also replaced its auditor, with CBIZ having raised substantial doubt about the company’s ability to continue as a going concern.
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