RocketFuel Blockchain, Inc. announced a private placement that it has issued to a private investor a convertible note in the face amount of $150,000 on April 11, 2024. The note bears interest at a rate of 10% per annum and matures on April 11, 2025. Principal and accrued interest on the note is due and payable at maturity and is convertible at any time in whole or in part into shares of our common stock at a conversion price of $0.205 per share.

We may redeem the note at any time by paying the note holder the principal amount plus accrued and unpaid interest. The note and the shares of common stock to be issued upon conversion of the note have not been registered under the Securities Act of 1933, as amended.