secwatch.observer — SEC 8-K summary
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Issuer:     Mitesco, Inc. (MITI)
CIK:        0000802257
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0001185185-24-000538
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mitesco forms data center subsidiary, issues 300k shares to advisors, secures $99k loans
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- Advisory Board created; four members each granted 75,000 restricted shares at $0.80/share (300,000 total) for 12-month service.
- William Thein appointment terminated; no consideration paid due to shift from consumer products to technology focus.
- Consulting agreement with Betsy Berlin: 12-month term, $10k/month salary, plus up to 75,000 restricted shares subject to performance.
- Three lending agreements with Cavalry Fund, AJB, and Mercer Street Capital: each $33,000 at 10% interest, 12-month term, proceeds for compliance costs.
- New wholly-owned subsidiary formed to develop secure data center operations and infrastructure-focused cybersecurity solutions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/802257/000118518524000538/0001185185-24-000538-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/802257/000118518524000538/mitesco20240512_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-24-000538

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