secwatch.observer — SEC 8-K summary
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Issuer:     SusGlobal Energy Corp. (SNRG)
CIK:        0001652539
Form:       8-K
Filed at:   2021-12-08T23:59:59+00:00
Accession:  0001062993-21-012448
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SusGlobal Energy issues $350K convertible note to AJB Capital for litigation settlement
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- Entered into securities purchase agreement with AJB Capital Investments for a 10% convertible promissory note with principal amount of $350,000, purchase price $315,000.
- Issued 857,143 shares of common stock as commitment fee valued at $300,000.
- Proceeds of approximately $275,000 intended to settle litigation with former CEO (unpaid fees of $310,428).
- Note matures June 2, 2022; convertible into common stock at 90% of market price upon event of default.
- Company must reserve at least 7,000,000 shares for conversion; failure to maintain reserve triggers $5,000 increase in principal per occurrence.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1652539/000106299321012448/0001062993-21-012448-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1652539/000106299321012448/form8k.htm
  HTML page:      https://secwatch.observer/filing/0001062993-21-012448

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