secwatch.observer — SEC 8-K summary
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Issuer:     HIGH WIRE NETWORKS, INC. (HWNI)
CIK:        0001413891
Form:       8-K/A
Filed at:   2022-04-15T23:59:59+00:00
Accession:  0001213900-22-020114
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

High Wire Networks completes HWN acquisition; HWN's revenue down 30% with going-concern doubt
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- Acquisition of HWN, Inc. closed June 16, 2021; HWN becomes wholly-owned subsidiary of High Wire Networks.
- HWN's 2020 revenue $15.76M, down 30% from $22.49M in 2019; net loss attributable to HWN $693k vs net income $430k in 2019.
- Audited financials include going-concern warning: HWN has incurred losses, negative cash flows, and negative working capital.
- Acquisition consideration included issuance of newly created Series D Preferred Stock (terms not specified in this filing).
- HWN reports goodwill of $2.61M and intangible assets net of $1.40M as of Dec 31, 2020.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413891/000121390022020114/0001213900-22-020114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413891/000121390022020114/ea157917-8ka1_highwire.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-020114

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