---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-050826"
form_type: "8-K"
ticker: null
cik: "0000719274"
company_name: "GRESHAM WORLDWIDE, INC."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T03:29:40.073757+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gresham Worldwide receives default notice on $2M convertible note; default interest at 18%

## Summary
- Defaults include failure to meet working capital covenant, non-payment at maturity, and cross-default on other notes.
- Default interest rate of 18% accrues on outstanding principal; principal reduction payments of 20% of monthly consolidated revenues required.
- Investor reserves all rights and remedies; late charges also accrue on unpaid amounts.
- Second notice issued under Subordination Agreement with Ault Alliance and two accredited investors regarding same defaults.

## SEC filing metadata
- accession: 0000950170-24-050826
- form_type: 8-K
- cik: 0000719274
- company_name: GRESHAM WORLDWIDE, INC.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.04
- EDGAR index: https://www.sec.gov/Archives/edgar/data/719274/000095017024050826/0000950170-24-050826-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/719274/000095017024050826/giga-20240426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-050826
- JSON: https://secwatch.observer/filing/0000950170-24-050826.json
- Plain text: https://secwatch.observer/filing/0000950170-24-050826.txt

## Key facts
- Debt Financings
  GRESHAM WORLDWIDE, INC. reported a default on convertible notes of $2,000,000 with an accredited investor at default rate of 18%.
  - Instrument: convertible notes
  - Principal: $2,000,000
  - Counterparty: an accredited investor
  - Rate: default rate of 18%
  - Event: default
  source text: On April 26, 2024, Gresham Worldwide, Inc. (the “Company”) received a Notice of Event of Default (the “Notice”) in reference to the Senior Secured Convertible Note (the ‘Senior Note”) in the principal amount of $2,000,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/719274/000095017024050826/0000950170-24-050826-index.htm

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