secwatch.observer — SEC 8-K summary
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Issuer:     Sky Quarry Inc. (SKYQ)
CIK:        0001812447
Form:       8-K
Filed at:   2025-12-15T23:59:59+00:00
Accession:  0001096906-25-002043
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sky Quarry issues ~1.47M shares to settle $491K debt owed by subsidiary to LendSpark
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- Issued 699,977 initial shares plus 699,977 additional shares to LendSpark for $491,384 debt of wholly-owned subsidiary Foreland Refining.
- Also issued 70,000 shares as settlement fee; all shares are freely tradable under Section 3(a)(10) of Securities Act.
- Settlement agreement dated Dec 1, 2025; court approval obtained; company reserves 3.2M shares for issuance.
- Additional shares may be issued upon conversion at a price based on lower of prior day closing or 5-day average closing price.
- Leak-out provision limits LendSpark's daily sales to 20% of trading volume.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812447/000109690625002043/0001096906-25-002043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812447/000109690625002043/skyq-20251215_8k.htm
  HTML page:      https://secwatch.observer/filing/0001096906-25-002043

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