{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-060864","form_type":"8-K","ticker":null,"cik":"0001704795","company_name":"Bantec, Inc.","filed_at":"2023-07-28T23:59:59+00:00","discovered_at":"2026-05-14T18:03:34.920858+00:00","generated_at":"2026-06-12T23:08:55.801071+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Bantec enters $90,400 convertible note with 14% interest, 10% OID, and deep discount conversion","bullets":["Principal $90,400 with $10,400 OID; net proceeds ~$80,000 for working capital.","Ten monthly payments of $10,305.60; first due Aug 30, 2023; matures May 15, 2024.","Unsecured note; upon default, 150% default amount + 22% interest; conversion at 39% of lowest closing price in prior 10 days.","Proceeds for working capital; issued in private placement under Section 4(a)(2)/Reg D.","Conversion capped at 4.99% beneficial ownership."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-060864","json":"https://secwatch.observer/filing/0001213900-23-060864.json","markdown":"https://secwatch.observer/filing/0001213900-23-060864.md","text":"https://secwatch.observer/filing/0001213900-23-060864.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1704795/000121390023060864/0001213900-23-060864-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1704795/000121390023060864/ea182542-8k_bantec.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T23:08:55.801071+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":"c5ae301954ebd3f006bc22982c000b1b1d09c28c","claim":"Bantec, Inc. incurred loan of $90,400 principal amount, including an original issue discount of $10,400.00 with 1800 Diagonal Lending LLC at 14% interest charge of $12,565.00, and default interest at 22% per annum maturing May 15, 2024.","evidence_excerpt":"On July 17, 2023, Bantec, Inc. (the “Company”) entered into the Securities Purchase Agreement (the “Agreement”) with 1800 Diagonal Lending LLC (“Lender”), pursuant to which the Company issued a promissory note (the “Note”) to the Lender in the principal amount of $90,400, including an original issue discount of $10,400.00.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704795/000121390023060864/0001213900-23-060864-index.htm","confidence":0.98,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$90,400 principal amount, including an original issue discount of $10,400.00"},{"label":"Counterparty","value":"1800 Diagonal Lending LLC"},{"label":"Rate","value":"14% interest charge of $12,565.00, and default interest at 22% per annum"},{"label":"Maturity","value":"May 15, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"cadee31e1d5bcb9776b7b7edb03f15b551fe376e","claim":"Bantec, Inc. entered into Securities Purchase Agreement with 1800 Diagonal Lending LLC valued at $90,400 (effective 2023-07-17).","evidence_excerpt":"On July 17, 2023, Bantec, Inc. (the “Company”) entered into the Securities Purchase Agreement (the “Agreement”) with 1800 Diagonal Lending LLC (“Lender”), pursuant to which the Company issued a promissory note (the “Note”) to the Lender in the principal amount of $90,400, including an original issue discount of $10,400.00.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1704795/000121390023060864/0001213900-23-060864-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"1800 Diagonal Lending LLC"},{"label":"Value","value":"$90,400"},{"label":"Effective","value":"2023-07-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}