---
schema_version: "secwatch.filing_event.v1"
accession: "0001096906-24-000539"
form_type: "8-K"
ticker: "AXIM"
cik: "0001514946"
company_name: "AXIM BIOTECHNOLOGIES, INC."
filed_at: "2024-03-21T23:59:59+00:00"
generated_at: "2026-06-04T09:50:07.073857+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# AXIM issues $814,555 in convertible notes and restricted stock for past-due compensation

## Summary
- Issued $814,555 convertible notes to directors, officers, contractors, and Sapphire employees to settle past salaries/fees.
- Notes carry 4.25% annual interest, mature March 1, 2034; three versions with conversion prices of $0.01 or $0.02.
- Also sold 1,100,000 restricted shares at $0.01 per share to a Sapphire employee for $11,000 of past-due salary.
- Full conversion of all notes yields 47,727,750 common shares; conversion blocked until stock trades at $0.20 for 30 days after 6 months.
- Notes are non-transferable; 25% principal due annually for Version 1 Notes.

## SEC filing metadata
- accession: 0001096906-24-000539
- form_type: 8-K
- ticker: AXIM
- cik: 0001514946
- company_name: AXIM BIOTECHNOLOGIES, INC.
- filed_at: 2024-03-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1514946/000109690624000539/0001096906-24-000539-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1514946/000109690624000539/axim-20240315.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001096906-24-000539
- JSON: https://secwatch.observer/filing/0001096906-24-000539.json
- Plain text: https://secwatch.observer/filing/0001096906-24-000539.txt

## Key facts
- Debt Financings
  AXIM BIOTECHNOLOGIES, INC. incurred convertible notes of $814,555 at 4.25% annually maturing March 1, 2034.
  - Instrument: convertible notes
  - Principal: $814,555
  - Rate: 4.25% annually
  - Maturity: March 1, 2034
  - Event: incurrence
  source text: On March 15, 2024, the Company issued unsecured convertible notes with an aggregate face value of $814,555 as more fully described in Item 1.01 above, which is incorporated by reference thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1514946/000109690624000539/0001096906-24-000539-index.htm
- Material Agreements
  AXIM BIOTECHNOLOGIES, INC. entered into a notes offering with its independent directors, certain officers and contractors of the Company, and employees of its wholly-owned subsidiary, Sapphire Biotech, Inc. valued at aggregate face value of $814,555 (effective 2024-03-15).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: its independent directors, certain officers and contractors of the Company, and employees of its wholly-owned subsidiary, Sapphire Biotech, Inc.
  - Value: aggregate face value of $814,555
  - Effective: 2024-03-15
  source text: On March 15, 2024, AXIM Biotechnologies, Inc. (the “Company”) issued Convertible Notes, having an aggregate face value of $814,555 (the "Notes"), to (i) its independent directors for past due director fees, (ii) certain officers and contractors of the Company for past due salaries and fees for services rendered, and (iii) employees of its wholly-owned subsidiary, Sapphire Biotech, Inc. ("Sapphire"), for past due salaries.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1514946/000109690624000539/0001096906-24-000539-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.