secwatch.observer — SEC 8-K summary
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Issuer:     AXIM BIOTECHNOLOGIES, INC. (AXIM)
CIK:        0001514946
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001096906-24-000199
Event type: litigation
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

AXIM Biotechnologies settles IMS litigation; to issue 20M restricted shares plus cash and royalties
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- Settlement with Innovative Medical Supplies resolves two lawsuits; no admission of wrongdoing.
- Cash payment of $100,000 payable over 24 months.
- Royalty of $0.35 per dry eye test cassette sold, capped at $475,000 total.
- Issues 20M restricted shares; 12-month lock-up, then drip-out limit of 1% of outstanding per 90 days.
- Shares issued under Section 4(a)(2) of Securities Act; unregistered sale.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1514946/000109690624000199/0001096906-24-000199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1514946/000109690624000199/axim-20240207.htm
  HTML page:      https://secwatch.observer/filing/0001096906-24-000199

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