{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-24-000110","form_type":"8-K","ticker":null,"cik":"0001039466","company_name":"NovAccess Global Inc.","filed_at":"2024-01-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.189124+00:00","generated_at":"2026-06-06T20:27:13.255151+00:00","sec_items":["2.04"],"event_type":"debt","sentiment":"negative","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"NovAccess in default on $184K convertible notes; creditor demands $276K penalty payment","bullets":["Received default notice from 1800 Diagonal Lending LLC on Jan 16, 2024, for failure to file annual report.","Creditor demanded immediate payment of $276,000, representing 150% of the $184,000 outstanding balance.","Company lacks funds to repay; Sumner Global financing ($3.63M equity + $7.05M loan) remains unclosed.","Owes AJB Capital Investments $1.8M past due; lacks cash for operations or to complete 2023 audit.","Default could lead to conversion of debt into common stock at a deep discount, diluting existing holders."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-24-000110","json":"https://secwatch.observer/filing/0001185185-24-000110.json","markdown":"https://secwatch.observer/filing/0001185185-24-000110.md","text":"https://secwatch.observer/filing/0001185185-24-000110.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000110/0001185185-24-000110-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000110/novaccess20240122_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T20:27:13.255151+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":"8b900da71bd61f46bde1b69ba8ed517a61620d1c","claim":"NovAccess Global Inc. reported a default on convertible notes of $243,770 in the aggregate with 1800 Diagonal Lending LLC.","evidence_excerpt":"LLC four convertible promissory notes on April 11, April 28, June 20, and August 17, 2023 (collectively, the “Notes”). Pursuant to the Notes, 1800 Diagonal loaned NovAccess $243,770 in the aggregate. Each of the Notes has a provision that requires us to make all filings with the Securities and Exchange Commission required by the Securities Exchange Act of","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000110/0001185185-24-000110-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$243,770 in the aggregate"},{"label":"Counterparty","value":"1800 Diagonal Lending LLC"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"},{"claim_id":"a989f6100def285b3a8aabe944eaa419df74255f","claim":"NovAccess Global Inc. faced acceleration on convertible notes of $276,000 (150% of the $184,000 currently outstanding) with 1800 Diagonal Lending LLC.","evidence_excerpt":"On January 16, 2024, 1800 Diagonal notified us of the default and demanded payment in full of the Notes in the amount of $276,000 (150% of the $184,000 currently outstanding under the Notes).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000110/0001185185-24-000110-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$276,000 (150% of the $184,000 currently outstanding)"},{"label":"Counterparty","value":"1800 Diagonal Lending LLC"},{"label":"Event","value":"acceleration"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}