{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-118916","form_type":"8-K","ticker":null,"cik":"0001015155","company_name":"CHARLES & COLVARD LTD","filed_at":"2025-12-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.534415+00:00","generated_at":"2026-05-16T14:10:42.697299+00:00","sec_items":["2.04","5.01","5.07","5.02"],"event_type":"litigation","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Charles & Colvard receives default notice on $2M note; court orders board election certification","bullets":["Received default notice on $2M convertible secured note due Oct 3, 2025; company disputes validity, litigation pending, discussions with holder opened.","North Carolina Business Court ordered certification of board election results, excluding shares from Note Conversion Agreement with Ethara Capital.","Four directors elected (Franklin, Levin, Pham, Sems); tie for fifth seat leaves board vacancy.","Director Neal Goldman resigned from board effective immediately; not due to disagreement with company."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-118916","json":"https://secwatch.observer/filing/0001104659-25-118916.json","markdown":"https://secwatch.observer/filing/0001104659-25-118916.md","text":"https://secwatch.observer/filing/0001104659-25-118916.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/tm2532851d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T14:10:42.697299+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"48163883c10e63e9f3dac86846e3d00f7824f27a","claim":"CHARLES & COLVARD LTD reported a default on convertible notes of $2.0 million with Ethara Capital LLC at increased from an annual rate equal to 5% to 9%, effective October 3, 2025 maturing October 3, 2025.","evidence_excerpt":"limited liability company. In connection with the Note Purchase Agreement, the Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025 and due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that an event of default by","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","confidence":0.9}],"comparable_filings":[{"accession":"0001213900-26-039579","ticker":"ATLN","company_name":"ATLANTIC INTERNATIONAL CORP.","filed_at":"2026-04-03T23:59:59+00:00","headline":"Atlantic International sues SPP over alleged fabricated default; COO resigns and is terminated for cause","event_type":"litigation","sec_items":["8.01","2.04","5.02"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: debt_financing","same SEC item: 2.04, 5.02","same event type: litigation"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-039579","json":"https://secwatch.observer/filing/0001213900-26-039579.json","markdown":"https://secwatch.observer/filing/0001213900-26-039579.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1605888/000121390026039579/0001213900-26-039579-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1605888/000121390026039579/ea0284949-8k_atlantic.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"SPP Lyneer Term Loan Default Notice By letter dated March 30, 2026, SPP Credit Advisors, LLC. (“SPP”) notified Atlantic International Corp. (the “Company”) and the Lyneer Subsidiaries that certain events of default have occurred and are continuing under Amended and Restated Loan Agreement dated as of April 29, 2025 (the \"Financing Agreement\")","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1605888/000121390026039579/0001213900-26-039579-index.htm"}},{"accession":"0001493152-26-021727","ticker":"RIME","company_name":"Algorhythm Holdings, Inc.","filed_at":"2026-05-07T23:59:59+00:00","headline":"Algorhythm Holdings defaults on $1.5M note payment; interest rate rises from 6% to 8%","event_type":"debt","sec_items":["2.04"],"materiality_score":0.65,"calibrated_materiality_score":0.65,"match_reasons":["same fact type: debt_financing","same SEC item: 2.04","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-021727","json":"https://secwatch.observer/filing/0001493152-26-021727.json","markdown":"https://secwatch.observer/filing/0001493152-26-021727.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/0001493152-26-021727-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/form8-k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"Obligation or an Obligation under an Off-Balance Sheet Arrangement. On\nMay 2, 2025, Algorhythm Holdings, Inc. (the “Company”) issued a promissory note in the principal amount of $1,750,000 (the\n“Promissory Note”) to SemiCab Inc., a Delaware corporation (the “Seller”), pursuant to an equity purchase agreement\n(the “Equity Purchase Agreement”) among the Company and","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/0001493152-26-021727-index.htm"}},{"accession":"0001493152-26-021548","ticker":"BNC","company_name":"CEA Industries Inc.","filed_at":"2026-05-06T23:59:59+00:00","headline":"CEA Industries President/Director McDonald resigns; enters $10M loan at 9.5% with BitGo Prime","event_type":"other_material","sec_items":["1.01","2.03","5.02","7.01","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing","same SEC item: 5.02","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-021548","json":"https://secwatch.observer/filing/0001493152-26-021548.json","markdown":"https://secwatch.observer/filing/0001493152-26-021548.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1482541/000149315226021548/0001493152-26-021548-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1482541/000149315226021548/form8-k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"On April 30, 2026, the parties to the Loan Agreement agreed to a loan request for 10 million USDC at a loan fee amount of 9.5% per annum and an initial maturity date of October 30, 2026, with option to renew for additional 6-month terms on a rolling basis.","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1482541/000149315226021548/0001493152-26-021548-index.htm"}},{"accession":"0001140361-26-018597","ticker":"PS","company_name":"PERSHING SQUARE INC.","filed_at":"2026-05-01T23:59:59+00:00","headline":"Pershing Square Inc. completes IPO and private placement; enters $350M credit facility","event_type":"other_material","sec_items":["1.01","2.03","3.02","8.01","5.02","9.01"],"materiality_score":0.7,"calibrated_materiality_score":0.7,"match_reasons":["same fact type: debt_financing","same SEC item: 5.02","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-018597","json":"https://secwatch.observer/filing/0001140361-26-018597.json","markdown":"https://secwatch.observer/filing/0001140361-26-018597.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/2026053/000114036126018597/0001140361-26-018597-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2026053/000114036126018597/ny20040230x31_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"on April 30, 2026, the Company and a syndicate of banks, led by Bank of America, N.A., as administrative agent, entered into a credit agreement (the “ Credit Agreement ”). The Credit Agreement consists of (i) a senior secured revolving credit facility (the “ Revolving Facility ”) in an aggregate principal amount of $250,000,000 and (ii) a senior secured term loan facility in an aggregate principal amount of $100,000,000","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/2026053/000114036126018597/0001140361-26-018597-index.htm"}},{"accession":"0001213900-26-051010","ticker":"HLF","company_name":"HERBALIFE LTD.","filed_at":"2026-05-01T23:59:59+00:00","headline":"Herbalife completes $1.45B refinancing, issues $800M 7.75% notes due 2033, redeems 12.25% notes","event_type":"debt","sec_items":["1.01","2.03","2.04","8.01","9.01"],"materiality_score":0.75,"calibrated_materiality_score":0.75,"match_reasons":["same fact type: debt_financing","same SEC item: 2.04","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-26-051010","json":"https://secwatch.observer/filing/0001213900-26-051010.json","markdown":"https://secwatch.observer/filing/0001213900-26-051010.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1180262/000121390026051010/0001213900-26-051010-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1180262/000121390026051010/ea0288353-8k_herbalife.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"On April 29, 2026, HLF Financing SaRL, LLC (“HLF Financing”) and Herbalife International, Inc. (“HII” and together with HLF Financing, the “Issuers”), each a wholly owned subsidiary of Herbalife Ltd., a Cayman Islands exempted company incorporated with limited liability (the “Company”), issued $800 million aggregate principal amount of 7.750% Senior Secured Notes due 2033 (the “Notes”) to certain initial purchasers (the “Offering”).","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1180262/000121390026051010/0001213900-26-051010-index.htm"}},{"accession":"0001683168-26-003395","ticker":"DHTI","company_name":"Dalrada Technology Group, Inc.","filed_at":"2026-05-01T23:59:59+00:00","headline":"Dalrada Technology Group receives default notice; $500K cure payment due May 1","event_type":"debt","sec_items":["2.04"],"materiality_score":0.8,"calibrated_materiality_score":0.8,"match_reasons":["same fact type: debt_financing","same SEC item: 2.04","similar materiality"],"urls":{"canonical":"https://secwatch.observer/filing/0001683168-26-003395","json":"https://secwatch.observer/filing/0001683168-26-003395.json","markdown":"https://secwatch.observer/filing/0001683168-26-003395.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/725394/000168316826003395/0001683168-26-003395-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/725394/000168316826003395/dalrada_8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"the “Loan Documents”). The Lender attributes the defaults to the\nborrowers’ failure to make required payments under the Loan Documents. The Lender demands a cure payment of $500,000 no later\nthan May 1, 2026. The notice states that, if the cure payment is not made, the Lender will accelerate the respective balances of the Loans\nand immediately commence","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/725394/000168316826003395/0001683168-26-003395-index.htm"}},{"accession":"0001193125-26-251752","ticker":null,"company_name":"Enviri II Corp","filed_at":"2026-06-01T21:18:36+00:00","headline":"New Enviri completes spin-off; starts trading June 2 under NVRI; ~$1.2B revenue, ~$140M EBITDA","event_type":"m_and_a","sec_items":["1.01","2.03","3.03","5.03","5.01","5.02","5.05","7.01","9.01"],"materiality_score":0.9,"calibrated_materiality_score":0.9,"match_reasons":["same fact type: debt_financing","same SEC item: 5.01, 5.02"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-251752","json":"https://secwatch.observer/filing/0001193125-26-251752.json","markdown":"https://secwatch.observer/filing/0001193125-26-251752.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/2104052/000119312526251752/0001193125-26-251752-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/2104052/000119312526251752/d258410d8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"The Credit Agreement provides for (i) a revolving credit facility in an aggregate principal amount of $152.0 million (such facility, the “Revolving Credit Facility”)","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/2104052/000119312526251752/0001193125-26-251752-index.htm"}},{"accession":"0001193125-26-213462","ticker":"EWCZ","company_name":"European Wax Center, Inc.","filed_at":"2026-05-08T23:59:59+00:00","headline":"European Wax Center completes take-private by General Atlantic at $5.80/share; stock delisted","event_type":"m_and_a","sec_items":["1.01","1.02","2.01","2.03","3.01","3.03","5.02","5.03","5.01","8.01","9.01"],"materiality_score":0.85,"calibrated_materiality_score":0.85,"match_reasons":["same fact type: debt_financing","same SEC item: 5.01, 5.02"],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-213462","json":"https://secwatch.observer/filing/0001193125-26-213462.json","markdown":"https://secwatch.observer/filing/0001193125-26-213462.md","edgar_index":"https://www.sec.gov/Archives/edgar/data/1856236/000119312526213462/0001193125-26-213462-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1856236/000119312526213462/d137291d8k.htm"},"side_by_side_evidence":{"fact_type":"debt_financing","source_excerpt":"limited liability company. In connection with the Note Purchase Agreement,\nthe Company issued a convertible secured note to the Holder for an aggregate total purchase price of $2.0 million, dated July 3, 2025\nand due and payable on October 3, 2025. On November 25, 2025, the Company received a notice of default from the Holder asserting that\nan event of default by","source_evidence_url":"https://www.sec.gov/Archives/edgar/data/1015155/000110465925118916/0001104659-25-118916-index.htm","comparable_excerpt":"up to $40,000,000 aggregate principal amount of the Series 2026-1 Variable Funding Senior Secured Notes, Class A-1","comparable_evidence_url":"https://www.sec.gov/Archives/edgar/data/1856236/000119312526213462/0001193125-26-213462-index.htm"}}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}