secwatch.observer — SEC 8-K summary
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Issuer:     AXIM BIOTECHNOLOGIES, INC. (AXIM)
CIK:        0001514946
Form:       8-K
Filed at:   2023-01-27T23:59:59+00:00
Accession:  0001096906-23-000219
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AXIM cures defaults on $5.3M in debt, cuts conversion prices, gives CEO $250K note for back pay
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- TL-66 waives $216,572 interest on $934,478 secured notes; conversion price cut to $0.04 from $0.2201.
- MMI waives $261,537 interest on $4M note; conversion price cut to $0.075 from $0.25.
- CEO forgives $50K of $512.5K back salary; gets $250K note at $0.01; $212.5K deferred to July 1, 2023.
- CEO salary cut by $55,000 for H1 2023 to preserve working capital.
- Additional interest waivers on TL-66 ($11,191) and Sapphire ($17,116) notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514946/000109690623000219/0001096906-23-000219-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514946/000109690623000219/axim-20230123.htm
  HTML page:      https://secwatch.observer/filing/0001096906-23-000219

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