secwatch.observer — SEC 8-K summary
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Issuer:     KonaTel, Inc. (KTEL)
CIK:        0000845819
Form:       8-K
Filed at:   2022-06-21T23:59:59+00:00
Accession:  0001010412-22-000021
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KonaTel secures $3.15M debt financing at 15% interest to fund mobile services growth
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- Entered $3.15M senior secured note purchase with CCUR Holdings and Symbolic Logic; one-year maturity, 15% annual interest.
- Two successive six-month optional extensions available; prepayment restricted for first nine months.
- Proceeds: retire $150K SBA EIDL loan, allocate $3M to accelerate mobile services growth strategy.
- Company and subsidiaries pledge all tangible and intangible assets as security under Guarantee and Security Agreement.
- Purchasers receive $90K origination fee and expense reimbursement up to $50K.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845819/000101041222000021/0001010412-22-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845819/000101041222000021/currloan8k6-14-22.htm
  HTML page:      https://secwatch.observer/filing/0001010412-22-000021

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