{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-24-000196","form_type":"8-K","ticker":null,"cik":"0001039466","company_name":"NovAccess Global Inc.","filed_at":"2024-02-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:23.189550+00:00","generated_at":"2026-06-05T07:53:41.489177+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.45,"calibrated_materiality_score":0.45,"confidence":"high","headline":"NovAccess Global issues $100K promissory note to AJB Capital with 20% OID, 12% interest, due Aug 2024","bullets":["Initial draw of $25,000 for working capital; additional $25,000 draws on March 15 and April 15, 2024.","Note bears 12% interest, 20% original issue discount, due August 27, 2024; must prepay from any capital raise over $5M.","Upon default, interest rises to 18%, amounts may double, and AJB can convert outstanding into shares at market discount.","Company granted AJB a security interest in all assets, including equity of StemVax LLC, under a security agreement.","Registration rights agreement requires filing Form S-1 by May 27, 2024 to register conversion shares for resale."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-24-000196","json":"https://secwatch.observer/filing/0001185185-24-000196.json","markdown":"https://secwatch.observer/filing/0001185185-24-000196.md","text":"https://secwatch.observer/filing/0001185185-24-000196.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000196/0001185185-24-000196-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000196/novaccess20240227c_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T07:53:41.489177+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":"dbe3fc20f3c84d7424056367ad8ad078bbef66ae","claim":"NovAccess Global Inc. incurred loan of up to $100,000 with AJB Capital Investments, LLC at 12% a year maturing August 27, 2024.","evidence_excerpt":"issued a promissory note in the principal amount of up to $100,000 (the “note”) to AJB pursuant to the SPA. NovAccess made an initial draw of $25,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000196/0001185185-24-000196-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"up to $100,000"},{"label":"Counterparty","value":"AJB Capital Investments, LLC"},{"label":"Rate","value":"12% a year"},{"label":"Maturity","value":"August 27, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"6530566f26fe1a66c80a10e7a89323f53dc674ba","claim":"NovAccess Global Inc. entered into securities purchase agreement with AJB Capital Investments, LLC valued at $100,000 (effective 2024-02-27).","evidence_excerpt":"On February 27, 2024, NovAccess Global Inc. (“NovAccess” or the “company”) entered into a securities purchase agreement (the “SPA”) with AJB Capital Investments, LLC (“AJB”) and issued a promissory note in the principal amount of up to $100,000 (the “note”) to AJB pursuant to the SPA.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1039466/000118518524000196/0001185185-24-000196-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"AJB Capital Investments, LLC"},{"label":"Value","value":"$100,000"},{"label":"Effective","value":"2024-02-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}