secwatch.observer — SEC 8-K summary
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Issuer:     AXIM BIOTECHNOLOGIES, INC. (AXIM)
CIK:        0001514946
Form:       8-K
Filed at:   2023-12-28T23:59:59+00:00
Accession:  0001096906-23-002456
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Axim Biotech enters up to $750K convertible note deal with affiliate Medical Marijuana Inc
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- Initial $100,000 note issued Dec 26, 2023; MJNA can purchase up to $750,000 total by June 26, 2025.
- Notes bear 5.25% interest, mature Dec 26, 2033; interest payable annually starting Dec 26, 2024.
- Conversion price is lesser of $0.01 or 70% of avg two lowest closing prices in prior 10 trading days.
- Conversion capped at 4.9% beneficial ownership; notes sold unregistered under Regulation D.
- Proceeds for working capital, product development, and clinical trials.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514946/000109690623002456/0001096906-23-002456-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514946/000109690623002456/axim-20231226.htm
  HTML page:      https://secwatch.observer/filing/0001096906-23-002456

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