secwatch.observer — SEC 8-K summary
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Issuer:     MOVING iMAGE TECHNOLOGIES INC. (MITQ)
CIK:        0001770236
Form:       8-K
Filed at:   2023-05-01T23:59:59+00:00
Accession:  0001104659-23-054379
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

MiT lends $300K to Five Agency, gets 5% equity in SNDBX, and exclusive supply deal
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- On April 25, 2023, MiT loaned $150K initially, with another $150K contingent on conditions, to The Five Agency to form SNDBX.
- MiT receives 5% equity stake in SNDBX; loan carries 10% annual interest, principal due May 2026.
- Second $150K loan requires exclusive supply agreement for >$3M in equipment systems by April 30, 2026.
- MiT co-owns equipment patents with Five Agency; MiT becomes sole owner if patent rights transferred.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1770236/000110465923054379/0001104659-23-054379-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1770236/000110465923054379/tm2314305d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-054379

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