Michael Hill, Chief Executive Officer and Director of APPlife Digital Solutions Inc, filed a Form 4 on November 12, 2026, disclosing the amendment of a convertible promissory note held indirectly through SportsAlert Media, LLC, with the transaction dated November 11, 2026.

Key Highlights

  • Original note disposed: A 10% convertible promissory note with a principal of $27,500, originally maturing October 10, 2026, was reported as disposed of.
  • Amended note acquired: A 12% convertible promissory note with a principal of $30,250 was reported as acquired, reflecting a $2,750 extension fee added to principal.
  • Maturity date extended: According to the filing, the amended note matures on the earlier of April 30, 2027 and the closing of a Qualified Transaction.
  • Interest rate change: The filing states the interest rate was changed to 12% per annum from October 10, 2026, replacing the original 10% stated rate and a 15% default rate.
  • Indirect ownership: Both notes are held by SportsAlert Media, LLC, of which the reporting person is described as the managing member and sole owner.
  • No cash exchanged: The filing states that no cash was paid and no shares were issued in connection with the amendment.
  • Board approval noted: The filing states the amendment was approved by the issuer's Board of Directors on October 16, 2026, with the reporting person abstaining.

APPlife Convertible Note Amendment: Key Terms and Transaction Details

According to the Form 4 filed with the SEC, Michael Hill, who serves as Chief Executive Officer and Director of APPlife Digital Solutions Inc (OTC:ALDS) and is also identified as a 10% owner, reported changes in his indirect beneficial ownership of derivative securities on November 11, 2026. The filing covers the amendment of a promissory note originally dated April 10, 2026, executed between the issuer and SportsAlert Media, LLC, an entity the filing identifies as wholly owned and managed by Hill.

The filing states that the amendment, dated November 12, 2026 and effective as of October 10, 2026, waived the event of default arising from non-payment at the original maturity date and added an extension fee of $2,750 to principal, increasing the principal amount from $27,500 to $30,250. The interest rate was changed to 12% per annum from October 10, 2026, replacing both the original 10% stated rate and the 15% default rate that had applied. The amendment is reported as the disposition of the original note and the acquisition of the amended note, with both transactions described as exempt under Rules 16b-3(d) and 16b-3(e).

The filing further explains that the note is convertible at the holder's option into common stock of APPlife Digital Solutions Inc at the lesser of 80% of the per-share price paid in a Qualified Transaction, defined as a priced equity financing of at least $1,000,000 with unaffiliated investors, or a valuation-cap price equal to $6,480,082 divided by the issuer's fully diluted shares immediately prior to such a transaction. Because no Qualified Transaction has occurred, the filing states that the conversion price and the number of underlying shares are not currently determinable. The amendment did not change the conversion terms.

What Was Disclosed

Michael Hill disclosed the amendment of an indirectly held convertible promissory note at APPlife Digital Solutions Inc. The original $27,500 note was disposed of and replaced by a $30,250 amended note carrying a 12% annual interest rate, with a revised maturity tied to April 30, 2027 or a Qualified Transaction, whichever comes first.