secwatch.observer — SEC 8-K summary
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Issuer:     NightFood Holdings, Inc. (NGTF)
CIK:        0001593001
Form:       8-K/A
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001213900-23-006063
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 2.04, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nightfood Holdings defaults on $936k notes; acceleration triggers 25% premium, CEO shares pledged
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- Company failed to pay ~$936k owed on Dec 29, 2022 maturity; Event of Default declared under Section 8(a) of Notes.
- Outstanding principal plus 25% premium, accrued interest, and late fees at 18% per annum now immediately due in cash.
- CEO Sean Folkson pledged 16,776,644 shares as collateral; Purchasers may exercise full rights upon default.
- Company is negotiating settlement with noteholders and seeking new financing to repay owed amount.
- No assurance of successful resolution; Purchasers may pursue foreclosure on pledged collateral.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1593001/000121390023006063/0001213900-23-006063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1593001/000121390023006063/ea172423-8ka_nightfood.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-006063

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