AIPT Precision Therapeutics Inc.

Sale of Promissory Note and Repayment of Previous Note. Effective as of September 27, 2019 (the “Effective Date”), Predictive Oncology Inc. (the “Company,” “we,” or “our”) entered into a Securities Purchase Agreement with Oasis Capital, LLC (“Oasis”) (the “Investor”). Pursuant to the Securities Purchase Agreement, as of September 27, 2019, the Company issued a promissory note to the Investor (the “Oasis Note”) in the original principal amount of $847,500 in exchange for an investment of $700,000. Pursuant to a Security Agreement between the Company and the Investor (the “Security Agreement”), the Company has granted to the Investor a security interest in its assets to secure repayment of the Note. As additional consideration for the investment, the Company issued an aggregate 88,574 shares of its common stock (the “Inducement Shares”) to the Investor plus a warrant (the “Warrant”) to acquire up to 682,368 shares of the Company’s common stock at an exercise price of $0.6210 per share. The warrant is exercisable beginning on the sixth month anniversary of the Effective Date through the fifth-year anniversary thereof. The Investor has piggyback registration rights with respect to the Inducement Shares. The maturity date of the Note is six months from the Effective Date. The Note accrues interest at a rate of 8% per annum (with six months of interest guaranteed). The Note may be prepaid with a prepayment penalty of 20%.

Also, on September 27, 2019, the Company used a portion of the proceeds from the sale of the Note to repay the remaining balance of its secured note held by Peak One Investments, LLC (“Peak One”) in the amount of $478,590.

Amendment to and Extension of Promissory Note. On September 27, 2019, the Company entered into an amendment to the Amended and Restated Senior Secured Promissory Note dated September 28, 2018 and amended restated as of February 7, 2019 issued to L2 Capital, LLC (the “L2 Note”). Under the amendment, the maturity date of the L2 Note was extended from September 28, 2019 to December 31, 2019. In exchange for such extension, the outstanding principal amount of the L2 Note was increased by $120,000, such that, as of the effective date of the amendment, the outstanding principal amount owed under the Note is $1,789,104. Under the amendment, through October 15, 2019, the holder waived its rights under the Note to have the Note repaid from the proceeds of any financing consummated by the Company. In exchange for such waiver, the Company issued 150,000 shares of common stock (the “Waiver Shares”) to the holder.

Documents. The foregoing description of each of the Securities Purchase Agreement, the Note, the Warrant, the Security Agreement and the amendment to the L2 Note is qualified in its entirety by reference thereto, which are filed as Exhibits 4.1, 10.1, 10.2, 10.3 and 10. to this Current Report, and are incorporated herein by reference. On September 30, 2019, the Company issued a press release regarding the issuance of the Oasis Note, the repayment of the Peak One note and the amendment to the L2 Note, a copy of which is filed herewith as Exhibit 99.1.