PositiveID Corporation (OTCPK:PSID) announced that it entered into security purchase agreement for a private placement of two 10% convertible redeemable promissory notes at a price of $88,000 per note for gross proceeds of $176,000 on January 13, 2017. The transaction will include participation from Crossover Capital Fund II, LLC. The notes are issued at an original issue discount of 12%, for gross proceeds of $200,000. The notes carry a fixed coupon of 10% per annum and will mature on January 13, 2018. The notes are convertible into common shares of the company at a price at a price equal to 62.5% of the lowest trading price of the common stock as reported on the OTC Link ATS owned by OTC Markets Group for the 20 prior trading days including the day upon which a notice of conversion is received by the company. The securities issued pursuant to exemption provided under Regulation D. The company has paid the legal fee of $13,500.