Evidence Record
Exhibit 7
The balance listed above is the total balance due to Legalist, Inc. and/or its affiliates ("Lender") through April 15th, 2026 to fully and finally satisfy all loan obligations through such date.
DISTIL analysis
DISTIL Run
Profile
Standard
Version
1
Doc Type
legal_exhibit_payoff_statement
Total Nodes
26
Node Legend
Entity (ENT)
Event (EVT)
Claim (CLM)
Anchor (ANC)
Omission (OMI)
Tension (TEN)
Tell (TEL)
Inference (INF)
Hypothesis (HYP)
Stage 1
Index
Orientation · No nodes
Document Classification
legal_exhibit_payoff_statement Legalist, Inc. civil_litigation_financial_disclosure 2026-04-15
court_filingexhibit_evidencefinancial_statement
Analytical Frame
debt_obligation_quantification
Analytical Summary
This court exhibit presents a payoff statement from Legalist, Inc. to Cyberlux, Inc., dated April 15, 2026, documenting total obligations of $13,608,702.73. The debt comprises principal ($10,033,639.75), unpaid interest ($2,900,646.70), commitment fees ($112,500), forbearance fees ($53,000), and both paid and unpaid legal fees totaling $508,916.28. The statement includes specific wire transfer instructions through Silicon Valley Bank and identifies a per diem rate of $6,687.99 for April 2026. The document's filing as Exhibit 7 in case 3:25-cv-00483-JAG suggests it serves as evidence in ongoing litigation between the parties.
Key Points
- Total debt obligation of $13,608,702.73 documented as of April 15, 2026
- Principal balance of $10,033,639.75 represents 73.7% of total debt
- Unpaid interest accumulation of $2,900,646.70 indicates extended default period
- Forbearance fees of $53,000 suggest prior workout negotiations
- Combined legal fees of $508,916.28 indicate substantial collection efforts
- Per diem interest rate of $6,687.99 demonstrates ongoing debt accrual
Stage 2
Core — Entities, Events, Claims
13 nodes
ENT-001
Entity
Legalist, Inc.
Lender entity identified as Legalist, Inc. and/or its affiliates, operating through Legalist SPV III, LP as beneficiary account holder.
Page 2, 3 — Legalist, Inc. and/or its affiliates ("Lender")... Beneficiary account Legalist SPV III, LP
ENT-002
Entity
Cyberlux, Inc.
Borrower entity identified as Cyberlux, Inc., subject of payoff statement and litigation.
Page 2 — Borrower: Cyberlux, Inc.
ENT-003
Entity
Silicon Valley Bank
Banking institution designated for wire transfer, located at 3003 Tasman Drive, Santa Clara, CA 95054.
Page 3 — Bank name Silicon Valley Bank Bank address 3003 Tasman Drive, Santa Clara, CA 95054
ENT-004
Entity
Mike Battillo
Contact person for Legalist designated for payment instruction verification, with email mike@legalist.com and phone (415) 429-2297.
Page 3 — Mike Battillo at mike@legalist.com or (415) 429-2297
EVT-001
Event
Payoff Statement Issuance
Legalist issued payoff statement to Cyberlux on April 15, 2026, documenting total balance due of $13,608,702.73.
Page 2 — April 15th, 2026 Borrower: Cyberlux, Inc. PAYOFF STATEMENT Period Ending 04/15/26... Total Balance $13,608,702.73
EVT-002
Event
Court Filing as Exhibit
Document filed as Exhibit 7 in case 3:25-cv-00483-JAG on April 15, 2026, in Eastern District of Virginia.
Page 1, 2, 3 — Case 3:25-cv-00483-JAG Document 175-8 Filed 04/15/26... EXHIBIT 7
CLM-001
Claim
Total Debt Obligation $13.6M
Legalist claims Cyberlux owes total balance of $13,608,702.73 to fully and finally satisfy all loan obligations through April 15, 2026.
Page 2 — Total Balance $13,608,702.73... The balance listed above is the total balance due to Legalist, Inc. and/or its affiliates ("Lender") through April 15th, 2026 to fully and finally satisfy all loan obligations through such date.
CLM-002
Claim
Principal Balance $10M
Outstanding principal amount claimed at $10,033,639.75.
Page 2 — Principal $10,033,639.75
CLM-003
Claim
Unpaid Interest $2.9M
Accumulated unpaid interest claimed at $2,900,646.70.
Page 2 — Unpaid Interest $2,900,646.70
CLM-004
Claim
Commitment Fee $112,500
Commitment fee claimed at $112,500.00.
Page 2 — Commitment Fee $112,500.00
CLM-005
Claim
Forbearance Fees $53,000
Forbearance fees claimed at $53,000.00.
Page 2 — Forbearance Fees $53,000.00
CLM-006
Claim
Legal Fees $508,916
Combined legal fees totaling $508,916.28, comprising paid legal fees of $312,959.85 and unpaid legal fees of $195,956.43.
Page 2 — Paid Legal Fees $312,959.85 Unpaid Legal Fees $195,956.43
CLM-007
Claim
Per Diem Interest $6,688
Daily interest accrual rate for April 2026 claimed at $6,687.99 per day.
Page 2 — April 2026 Per Diem $6,687.99
Stage 3
In Situ — Quotations, Tells, Tensions, Questions
6 nodes
QST-001
Question
Loan Origination Date Unknown
What was the original loan date and initial principal amount? The payoff statement shows current principal of $10M but provides no information about loan origination, original terms, or payment history.
Page 2 — Principal $10,033,639.75
QST-002
Question
Interest Rate Terms Unclear
What is the contractual interest rate? While the per diem of $6,688 is stated, the underlying annual percentage rate and whether it includes default interest premiums remains unspecified.
Page 2 — April 2026 Per Diem $6,687.99
QST-003
Question
Forbearance Agreement Terms Missing
What were the terms and duration of forbearance that generated $53,000 in fees? The document references forbearance but provides no details about the agreement terms or timeline.
Page 2 — Forbearance Fees $53,000.00
QST-004
Question
Legal Fee Breakdown Unspecified
What legal services generated over $500K in fees? The statement distinguishes paid versus unpaid but provides no detail about scope of legal work or hourly rates.
Page 2 — Paid Legal Fees $312,959.85 Unpaid Legal Fees $195,956.43
QST-005
Question
Commitment Fee Basis Unknown
What commitment amount generated the $112,500 fee? Standard commitment fees are typically 0.5-2% of facility size, suggesting possible original facility of $5-22M, but no confirmation provided.
Page 2 — Commitment Fee $112,500.00
TEN-001
Tension
Forbearance vs. Litigation Contradiction
Tension exists between Legalist's apparent willingness to grant forbearance (evidenced by $53K forbearance fees) and simultaneous aggressive litigation posture with $500K+ legal fees. This suggests either forbearance breakdown or disputes over forbearance terms.
Page 2 — Forbearance Fees $53,000.00... Paid Legal Fees $312,959.85 Unpaid Legal Fees $195,956.43
Stage 4
Interpretive — Inferences, Omissions, Patterns
7 nodes
INF-001
Inference
Extended Default Period
The substantial unpaid interest of $2.9M relative to $10M principal suggests an extended period of payment default, likely spanning multiple years. The per diem rate of $6,688 would generate approximately $2.44M annually, indicating roughly 1+ years of interest accumulation.
Page 2 — Unpaid Interest $2,900,646.70... April 2026 Per Diem $6,687.99
INF-002
Inference
Prior Workout Negotiations
The presence of forbearance fees of $53,000 indicates Legalist previously granted Cyberlux temporary relief from payment obligations, suggesting attempted workout negotiations that ultimately failed to resolve the debt.
Page 2 — Forbearance Fees $53,000.00
INF-003
Inference
Aggressive Collection Posture
Legal fees exceeding $500K combined with litigation filing indicate Legalist pursued formal legal remedies rather than informal collection, suggesting either borrower non-cooperation or disputed debt terms requiring judicial resolution.
Page 1, 2 — Paid Legal Fees $312,959.85 Unpaid Legal Fees $195,956.43... Case 3:25-cv-00483-JAG Document 175-8 Filed 04/15/26
INF-004
Inference
Litigation Strategy Context
Filing this payoff statement as Exhibit 7 suggests it serves evidentiary purposes in pending litigation, likely to establish debt quantum, support summary judgment, or demonstrate damages in breach of contract or collection action.
Page 1, 2 — Case 3:25-cv-00483-JAG Document 175-8 Filed 04/15/26... EXHIBIT 7
OMI-001
Omission
No Payment History Provided
The payoff statement provides no information about Cyberlux's payment history, last payment date, or whether any payments were made. This omission prevents assessment of borrower cooperation and may obscure partial payment attempts.
Page 2 — Total Balance $13,608,702.73
OMI-002
Omission
No Loan Agreement Terms Referenced
The statement contains no reference to underlying loan agreement terms, covenants, or events of default. This omission leaves ambiguous the contractual basis for fees, interest rates, and collection rights.
Page 2 — The balance listed above is the total balance due to Legalist, Inc. and/or its affiliates ("Lender") through April 15th, 2026 to fully and finally satisfy all loan obligations through such date.
OMI-003
Omission
Banking Credentials Incomplete
The wire transfer instructions omit ABA routing number, account number, and SWIFT code, requiring additional contact for complete information. This unusual omission may reflect security concerns or conditional payment acceptance.
Page 3 — ABA/Routing number [blank]... Account number [blank]... SWIFT code [blank]... Prior to wire transmission, please contact the following for payment instruction verification: Mike Battillo
Extracted text
3 pages · 1344 charactersEXHIBIT 7
Document 175-8 Legalist
Filed 04/15/26
April 15th, 2026
Borrower: Cyberlux, Inc.
PAYOFF STATEMENT
Period Ending
04/15/26
Principal
$10,033,639.75
Unpaid Interest
$2,900,646.70
Commitment Fee
$112,500.00
Forbearance Fees
$53,000.00
Paid Legal Fees
$312,959.85
Unpaid Legal Fees
$195,956.43
Total Balance
$13,608,702.73
April 2026 Per Diem
$6,687.99
The balance listed above is the total balance due to Legalist, Inc. and/or its affiliates ("Lender") through April 15th, 2026 to fully and finally satisfy all loan obligations through such date.
Wire details are listed below in Schedule A.
If you have any questions about this matter, please do not hesitate to contact us.
Schedule A
Currency
USD
Bank name
Silicon Valley Bank
Bank address
3003
Tasman Drive, Santa Clara, CA 95054
ABA/Routing number
Beneficiary account
Legalist SPV III, LP
Account address
58
West Portal Ave., No. 747 San Francisco, CA 94127
Account number
SWIFT code
Reference
CYBLX Final Payoff
Support: Prior to wire transmission, please contact the following for payment instruction verification:
. Mike Battillo at mike@legalist.com or (415) 429-2297
Original source file
No source file is attached yet. The record is ready for the PDF/media link when the attachment importer is connected.
- File
- ip-hii-edva-00483-doc-0175-exhibit-8.pdf
- Source UID
- source:6f0d281abdca484208094710224d5049a9d6a48898a8740048a8d461e1fa9c6c
- Full SHA-256
- 6f0d281abdca484208094710224d5049a9d6a48898a8740048a8d461e1fa9c6c