{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-24-000010","form_type":"8-K","ticker":null,"cik":"0001039466","company_name":"NovAccess Global Inc.","filed_at":"2024-01-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.188706+00:00","generated_at":"2026-06-07T05:01:56.657356+00:00","sec_items":["1.01","2.03","3.02","5.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"NovAccess Global secures $10.7M financing from Sumner Global; Sumner to gain majority control","bullets":["Sumner will purchase 33.0M shares at $0.11/share ($3.63M) and lend $7.05M via convertible notes at 10% interest.","Convertible notes due in 5 years, convertible at $0.11/share; first tranche of $3.05M due Feb 15, 2024, second $4M due Mar 15, 2024.","CEO's affiliate converts 600 Series B preferred shares into 6M common shares upon closing, eliminating all preferred stock.","Post-transaction Sumner will hold a majority of outstanding common shares, gaining ability to control shareholder votes.","Proceeds to fund operations, repay debt, and advance brain tumor immunotherapy (TLR-AD1) pipeline."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-24-000010","json":"https://secwatch.observer/filing/0001185185-24-000010.json","markdown":"https://secwatch.observer/filing/0001185185-24-000010.md","text":"https://secwatch.observer/filing/0001185185-24-000010.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/0001185185-24-000010-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/novaccess20231031_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T05:01:56.657356+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":"538d57273acf31b568d76b5be41f43086f20f7ef","claim":"NovAccess Global Inc. incurred convertible notes of $7.05 million with Sumner Global LLC at 10% a year maturing five-year term.","evidence_excerpt":"”), pursuant to which Sumner agreed to purchase 33.0 million newly issued shares of our unregistered common stock for $0.11 a share, or $3.63 million in total, and to loan us $7.05 million (collectively, the “ transaction ”). We expect to use this investment to fund operations and repay debt. Sumner is a global company that has created value across a diverse range","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/0001185185-24-000010-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$7.05 million"},{"label":"Counterparty","value":"Sumner Global LLC"},{"label":"Rate","value":"10% a year"},{"label":"Maturity","value":"five-year term"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"694a1ff9f9adec35918c2512a2b35bc9cb147448","claim":"NovAccess Global Inc. entered into purchase agreement with Sumner Global LLC, an affiliate of Sumner Investment Group Inc. valued at $3.63 million (effective 2023-12-29).","evidence_excerpt":"On December 29, 2023, NovAccess Global Inc. entered into a securities purchase agreement (the “ purchase agreement ”) with Sumner Global LLC, an affiliate of Sumner Investment Group Inc. (“ Sumner ”), pursuant to which Sumner agreed to purchase 33.0 million newly issued shares of our unregistered common stock for $0.11 a share, or $3.63 million in total, and to loan us $7.05 million","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000010/0001185185-24-000010-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Sumner Global LLC, an affiliate of Sumner Investment Group Inc."},{"label":"Value","value":"$3.63 million"},{"label":"Effective","value":"2023-12-29"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}