---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-000432"
form_type: "8-K"
ticker: null
cik: "0001039466"
company_name: "NovAccess Global Inc."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T02:31:08.561648+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# NovAccess issues $54,250 convertible note with 65% discount conversion to 1800 Diagonal Lending

## Summary
- Note bears 8% interest, matures April 24, 2024; prepayment penalty 15-25% of outstanding.
- Conversion price set at 65% of avg of three lowest trading prices in prior 15 trading days.
- Proceeds used for general working capital; no financial covenants, but asset sale requires lender approval.
- Default triggers 22% interest and collection costs; note convertible from Oct 21, 2023.
- Issuance exempt under Section 4(a)(2); company must maintain OTCQB listing and SEC reporting.

## SEC filing metadata
- accession: 0001185185-23-000432
- form_type: 8-K
- cik: 0001039466
- company_name: NovAccess Global Inc.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039466/000118518523000432/0001185185-23-000432-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039466/000118518523000432/novaccess20230501_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-000432
- JSON: https://secwatch.observer/filing/0001185185-23-000432.json
- Plain text: https://secwatch.observer/filing/0001185185-23-000432.txt

## Key facts
- Debt Financings
  NovAccess Global Inc. incurred convertible notes of $54,250 with 1800 Diagonal Lending LLC at 8% maturing April 24, 2024.
  - Instrument: convertible notes
  - Principal: $54,250
  - Counterparty: 1800 Diagonal Lending LLC
  - Rate: 8%
  - Maturity: April 24, 2024
  - Event: incurrence
  source text: issued a convertible promissory note in the original principal amount of $54,250
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039466/000118518523000432/0001185185-23-000432-index.htm
- Material Agreements
  NovAccess Global Inc. entered into Securities Purchase Agreement with 1800 Diagonal Lending LLC valued at Convertible promissory note in original principal amount of $54,250 (effective 2023-04-24).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: 1800 Diagonal Lending LLC
  - Value: Convertible promissory note in original principal amount of $54,250
  - Effective: 2023-04-24
  source text: On April 24, 2023, NovAccess Global Inc. (“ NovAccess ” or the “ company ”) entered into a securities purchase agreement (the “ SPA ”) with 1800 Diagonal Lending LLC (“ 1800 Diagonal Lending ”) and issued a convertible promissory note in the original principal amount of $54,250 (the “ note ”) to 1800 Diagonal Lending pursuant to the SPA.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039466/000118518523000432/0001185185-23-000432-index.htm

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