secwatch.observer — SEC 8-K summary
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Issuer:     AXIM BIOTECHNOLOGIES, INC. (AXIM)
CIK:        0001514946
Form:       8-K
Filed at:   2023-05-30T23:59:59+00:00
Accession:  0001096906-23-001206
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AXIM Biotechnologies issues $575K in convertible notes with 3.75% interest and variable conversion price
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- Aggregate principal of $575,000: $325,000 cash from four notes, $250,000 to repay prior advances.
- Interest rate 3.75% per annum, payable annually starting May 23, 2024; maturity May 23, 2033.
- Conversion price is lesser of $0.01 or 70% of average of two lowest closing prices in prior 10 trading days.
- Notes are unsecured; no prepayment without holder consent; includes 4.9% beneficial ownership blocker.
- Event of default allows holder to accelerate all principal and accrued interest.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514946/000109690623001206/0001096906-23-001206-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514946/000109690623001206/axim-20230523.htm
  HTML page:      https://secwatch.observer/filing/0001096906-23-001206

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