secwatch.observer — SEC 8-K summary
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Issuer:     RiskOn International, Inc. (—)
CIK:        0001437491
Form:       8-K
Filed at:   2023-03-10T23:59:59+00:00
Accession:  0001213900-23-019206
Event type: m_and_a
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 2.01, 3.02, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ecoark acquires BitNile.com in preferred-stock deal; faces Nasdaq compliance issues
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- Closed acquisition of BitNile.com (metaverse developer) via issuance of Series B & C convertible preferred stock convertible at $0.25 per share.
- Amendment provides for negative working capital cure, $25M bonus pool for 3 Ault Alliance executives upon $100M revenue target.
- Appointed Henry Nisser as director, President & General Counsel; he is an Ault Alliance executive with potential $5M bonus.
- Nasdaq raised voting rights and shareholder approval violations; Company must seek approval, reverse stock split, and increase authorized shares to 1.4B.
- BitNile.com warrants exchanged for Ecoark warrants covering 4M shares with piggyback registration rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437491/000121390023019206/0001213900-23-019206-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437491/000121390023019206/ea174940-8k_ecoarkhold.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-019206

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer