# VSEE HEALTH, INC. (VSEEW) — litigation/settled [announced]
Source: SEC API (secapi.ai) · situation sit_ccac8428ef75cb2ada2b · retrieved 2026-08-11T15:48:40.817Z

## Overview
VSee Health, Inc. is a Delaware corporation providing health services; it previously received notice of default from ADI regarding its failure to comply with equity line of credit filing and issuance obligations.

On July 21, 2026, VSee Health, Inc. entered into a Settlement Agreement and Mutual Release with ADI Funding LLC (holder of a $271,739.13 Secured Promissory Note from June 8, 2026) and M2B Funding Corp. to resolve disputes arising from the company's alleged failure to file a resale registration statement, Form 8-K, and transfer agent instructions related to an equity line of credit. Under the settlement, VSee Health agreed to: (1) repay the Existing Note within 90 days or upon receipt of financing proceeds; (2) pay ADI $50,000 in cash within three business days; (3) issue ADI a $50,000 promissory note maturing in six months, bearing 18% interest if unpaid at maturity, convertible at 75% of the lowest VWAP over the preceding 20 trading days; (4) issue M2B a $125,000 promissory note on similar terms; (5) issue ADI 500,000 restricted common shares with piggyback registration rights; and (6) issue M2B 500,000 restricted common shares with piggyback registration rights. The settlement notes and shares are exempt from registration under Section 4(a)(2) of the Securities Act.

## Terms
- Counterparty: ADI Funding LLC and M2B Funding Corp. · Consideration: mixed

## Key dates
- Announced 2026-07-24

## Timeline
- 2026-07-24 · 8-K (0001185185-26-003124): 8-K - VSEE HEALTH, INC. — *VSee Health, Inc. is a Delaware corporation providing health services; it previously received notice of default from ADI regarding its failure to comply with equity line of credit filing and issuance obligations.* On July 21, 2026, VSee Health, Inc. entered into a Settlement Agreement and Mutual Release with ADI Funding LLC (holder of a $271,739.13 Secured Promissory Note from June 8, 2026) and M2B Funding Corp. to resolve disputes arising from the company's alleged failure to file a resale registration statement, Form 8-K, and transfer agent instructions related to an equity line of credit. Under the settlement, VSee Health agreed to: (1) repay the Existing Note within 90 days or upon receipt of financing proceeds; (2) pay ADI $50,000 in cash within three business days; (3) issue ADI a $50,000 promissory note maturing in six months, bearing 18% interest if unpaid at maturity, convertible at 75% of the lowest VWAP over the preceding 20 trading days; (4) issue M2B a $125,000 promissory note on similar terms; (5) issue ADI 500,000 restricted common shares with piggyback registration rights; and (6) issue M2B 500,000 restricted common shares with piggyback registration rights. The settlement notes and shares are exempt from registration under Section 4(a)(2) of the Securities Act.
  https://www.sec.gov/Archives/edgar/data/1864531/0001185185-26-003124.txt

## Citations
- 0001185185-26-003124 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000118518526003124