{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-24-000135","form_type":"8-K","ticker":null,"cik":"0001039466","company_name":"NovAccess Global Inc.","filed_at":"2024-02-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.189345+00:00","generated_at":"2026-06-06T07:39:30.270859+00:00","sec_items":["2.04"],"event_type":"debt","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"NovAccess Global defaults on $55K convertible note; faces $86K demand and conversion risk","bullets":["Default triggered by failure to file 2023 annual report; lender 13 Paul Lending demanded $86,000 (150% of $57,000 outstanding).","Company lacks funds to repay; lender may convert outstanding amount into common stock at significant discount.","Separate $10.68M equity/debt deal with Sumner Global LLC not closed; expected to close 'shortly' but contingent on Sumner's financing.","AJB Capital Investments loaned funds to commence audit; company expects to file 2023 annual report by Feb 12, 2024.","Company states it cannot guarantee ability to repay, complete Sumner deal, or file required reports."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-24-000135","json":"https://secwatch.observer/filing/0001185185-24-000135.json","markdown":"https://secwatch.observer/filing/0001185185-24-000135.md","text":"https://secwatch.observer/filing/0001185185-24-000135.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000135/0001185185-24-000135-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000135/novaccess20240205_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T07:39:30.270859+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":"cacbdfd330d8c7aaac318c420979c1de2d77fac6","claim":"NovAccess Global Inc. reported a default on convertible notes of $55,000 with 13 Paul Lending LLC.","evidence_excerpt":"(“NovAccess,” the “company,” “we” or “us”) issued a convertible promissory note to 13 Paul Lending LLC on August 16, 2023. Pursuant to the note, 13 Paul Lending loaned NovAccess $55,000. The note has a provision that requires us to make all filings with the Securities and Exchange Commission required by the Securities Exchange Act of 1934. We have not filed the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000135/0001185185-24-000135-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$55,000"},{"label":"Counterparty","value":"13 Paul Lending LLC"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}