secwatch.observer — SEC 8-K summary
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Issuer:     Zapata Quantum, Inc. (ZPTA)
CIK:        0001843714
Form:       8-K
Filed at:   2025-10-28T23:59:59+00:00
Accession:  0001079973-25-001650
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zapata Quantum restructures $3.17M creditor debt into contingent obligations, raises $500K via Series A preferred
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- Overdue invoices of $3,166,926.75; $1,583,463.38 extinguished in exchange for contingent obligations.
- Remaining $1,583,463.38 subject to forbearance with 0.8% monthly late charge; forbearance terminates on specified events.
- Contingent obligations: $791,731.69 each due upon capital raises exceeding $45M and $55M.
- Company sold 5,000 shares of Series A Convertible Preferred at $100/share for $500,000 to accredited investors.
- Series A convertible into 1,000 common shares per preferred share; senior to common on liquidation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1843714/000107997325001650/0001079973-25-001650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1843714/000107997325001650/zapata_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-25-001650

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer