secwatch.observer — SEC 8-K summary
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Issuer:     Sky Quarry Inc. (SKYQ)
CIK:        0001812447
Form:       8-K
Filed at:   2026-07-02T18:25:17+00:00
Accession:  0001096906-26-001038
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 1.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sky Quarry converts $3.985M MCA obligations into 8% promissory note; CEO provides personal guarantee
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- Converted $3,985,000 in merchant cash advance obligations into a single promissory note at 8% simple interest.
- Note has escalating weekly payments from $15,000 to $70,000 over 85 weeks, then a final payment.
- CEO Marcus Laun executed a personal guarantee for the note; company indemnifies him for any losses.
- All prior MCA agreements cancelled and extinguished; Libertas releases all claims against the company.
- Existing security interests remain; company restricted from selling future receivables or material assets without Libertas consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1812447/000109690626001038/0001096906-26-001038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1812447/000109690626001038/skyq-20260629_8k.htm
  HTML page:      https://secwatch.observer/filing/0001096906-26-001038

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