---
schema_version: "secwatch.filing_event.v1"
accession: "0000944075-23-000035"
form_type: "8-K"
ticker: "SCKT"
cik: "0000944075"
company_name: "SOCKET MOBILE, INC."
filed_at: "2023-05-30T23:59:59+00:00"
generated_at: "2026-06-14T12:25:39.967170+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Socket Mobile completes $1.6M secured convertible note financing with 10% interest, convertible at $1.34/share

## Summary
- $1.6M secured subordinated convertible notes, 10% interest payable quarterly in cash, maturing May 26, 2026.
- Notes convertible at $1.34/share into common stock; holders may demand repayment after May 26, 2024.
- Proceeds used to increase working capital; notes secured by assets and subordinated to Western Alliance Bank debt.
- Default includes missed principal/interest payments with 5-day grace; company to file resale registration by Aug 31, 2023.
- Insiders (Chairman Charlie Bass, CEO Kevin Mills, director Bill Parnell) participated; special committee approved.

## SEC filing metadata
- accession: 0000944075-23-000035
- form_type: 8-K
- ticker: SCKT
- cik: 0000944075
- company_name: SOCKET MOBILE, INC.
- filed_at: 2023-05-30T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/944075/000094407523000035/0000944075-23-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/944075/000094407523000035/form-8k0526.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000944075-23-000035
- JSON: https://secwatch.observer/filing/0000944075-23-000035.json
- Plain text: https://secwatch.observer/filing/0000944075-23-000035.txt

## Key facts
- Debt Financings
  SOCKET MOBILE, INC. incurred convertible notes of $1,600,000 at 10% per year maturing May 26, 2026.
  - Instrument: convertible notes
  - Principal: $1,600,000
  - Rate: 10% per year
  - Maturity: May 26, 2026
  - Event: incurrence
  source text: On May 26, 2023, Socket Mobile, Inc. (the “Company”) completed a secured subordinated convertible note financing of $1,600,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/944075/000094407523000035/0000944075-23-000035-index.htm
- Material Agreements
  SOCKET MOBILE, INC. entered into Notes with Charlie Bass, Kevin Mills, Bill Parnell valued at $1,600,000 (effective 2023-05-26).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Charlie Bass, Kevin Mills, Bill Parnell
  - Value: $1,600,000
  - Effective: 2023-05-26
  source text: On May 26, 2023, Socket Mobile, Inc. (the “Company”) completed a secured subordinated convertible note financing of $1,600,000 (the “Financing”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/944075/000094407523000035/0000944075-23-000035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.