---
schema_version: "secwatch.filing_event.v1"
accession: "0001161697-24-000121"
form_type: "8-K"
ticker: null
cik: "0001438901"
company_name: "Auto Parts 4Less Group, Inc."
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-04T23:44:46.614086+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Auto Parts 4Less converts $1.2M debt and payables into stock, lifting equity

## Summary
- Issued 64.59M shares to Sergio & Cheryl Salzano Family Trust to cancel $645,900 debt.
- Issued 55.0M shares to North Industrial Machine LLC to cancel $549,978 debt.
- Total conversion of $1,195,506 in debt and accounts payable; all shares have a two-year lockup.
- Expects to report gains on cancellation of indebtedness of ~$645,900 and ~$549,978 in Q1 10-Q.
- CEO cites strengthened balance sheet and aligned creditor long-term interests.

## SEC filing metadata
- accession: 0001161697-24-000121
- form_type: 8-K
- cik: 0001438901
- company_name: Auto Parts 4Less Group, Inc.
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1438901/000116169724000121/0001161697-24-000121-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1438901/000116169724000121/form_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001161697-24-000121
- JSON: https://secwatch.observer/filing/0001161697-24-000121.json
- Plain text: https://secwatch.observer/filing/0001161697-24-000121.txt

## Key facts
- Material Agreements
  Auto Parts 4Less Group, Inc. entered into NIM Agreement with North Industrial Machine, LLC valued at 54,997,800 shares of common stock for cancellation of $549,978 of indebtedness (effective 2024-03-07).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: North Industrial Machine, LLC
  - Value: 54,997,800 shares of common stock for cancellation of $549,978 of indebtedness
  - Effective: 2024-03-07
  source text: On March 7, 2024, the Company entered into an Exchange Agreement (the “NIM Agreement”) with North Industrial Machine, LLC (“NIM”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1438901/000116169724000121/0001161697-24-000121-index.htm
- Material Agreements
  Auto Parts 4Less Group, Inc. entered into Salzano Agreement with Sergio and Cheryl Salzano Family Trust valued at 64,590,000 shares of common stock for cancellation of $645,900 of indebtedness (effective 2024-03-06).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Sergio and Cheryl Salzano Family Trust
  - Value: 64,590,000 shares of common stock for cancellation of $645,900 of indebtedness
  - Effective: 2024-03-06
  source text: On March 6, 2024, Auto Parts 4 Less Group, Inc., a Nevada corporation (the “Company”), entered into an Exchange Agreement (the “Salzano Agreement”) with Sergio and Cheryl Salzano Family Trust (“Salzano”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1438901/000116169724000121/0001161697-24-000121-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.