secwatch.observer — SEC 8-K summary
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Issuer:     ACURA PHARMACEUTICALS, INC (—)
CIK:        0000786947
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001104659-24-035530
Event type: debt
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 2.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Acura Pharmaceuticals receives $250k loan from major shareholder; warns of possible bankruptcy if no further funding
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- Total note principal now $5,419,279 after 13th loan from AD Pharma (65% owner).
- Loan matures March 31, 2024; funds used for operations only through mid-April.
- Without additional funding by end of April, operations may cease or bankruptcy filed.
- Default interest rate 7.5%; events include failure to pay, bankruptcy, inability to pay debts.
- AD Pharma, controlled by Mr. Schutte, holds ~65% equity; Schutte personally owns ~13%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/786947/000110465924035530/0001104659-24-035530-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/786947/000110465924035530/tm249122d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-035530

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