secwatch.observer — SEC 8-K summary
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Issuer:     NANOVIRICIDES, INC. (NNVC)
CIK:        0001379006
Form:       8-K
Filed at:   2024-02-16T23:59:59+00:00
Accession:  0001104659-24-024973
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

NanoViricides defers TheraCour milestone payments until revenue; CEO extends Line of Credit
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- Amendment to TheraCour license defers future cash milestone payments (Milestones 4-7) until company achieves a Revenue Event; capped at 50% of Recognized Revenue.
- Milestones 1,2,3 already paid: 100k Series A Preferred shares, 50k Series A Preferred shares, and $1.5M via 331,859 shares in lieu of cash.
- CEO Dr. Anil Diwan extended $2M line of credit maturity from Dec 31, 2024 to Dec 31, 2025; no draws to date.
- TheraCour agreed to suspend two-month advance payment requirement until company raises sufficient capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1379006/000110465924024973/0001104659-24-024973-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1379006/000110465924024973/tm246547d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-024973

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