secwatch.observer — SEC 8-K summary
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Issuer:     MOVING iMAGE TECHNOLOGIES INC. (MITQ)
CIK:        0001770236
Form:       8-K
Filed at:   2023-06-12T23:59:59+00:00
Accession:  0001104659-23-070277
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Moving iMAGE Technologies invests $100,000 unsecured convertible note in SNDBX
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- Principal $100,000, 5% simple interest, matures June 5, 2024.
- Note convertible into 20 Founders Shares of SNDBX at $5,000/share at holder's election after maturity.
- SNDBX may repurchase 10 of 20 Founders Shares for $500,000 ($100,000 down, $100,000/yr for 4 years).
- Events of default include non-payment, bankruptcy, or involuntary proceedings lasting 90+ days.
- Note and underlying shares are unregistered restricted securities under the Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1770236/000110465923070277/0001104659-23-070277-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1770236/000110465923070277/tm2318431d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-070277

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