secwatch.observer — SEC 8-K summary
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Issuer:     C-Bond Systems, Inc (—)
CIK:        0001421636
Form:       8-K
Filed at:   2023-12-06T23:59:59+00:00
Accession:  0001213900-23-093327
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

C-Bond eliminates conversion feature of last convertible note; sets monthly payments
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- Agreement with Mercer Street eliminates conversion rights on $1.11M note; company pays $15k/month for 35 months plus $580k balloon.
- Balloon payment due month 36; early payment discounts of up to 20% if paid by March 31, 2024.
- Company also pays Mercer 20% of gross proceeds from any capital raise over $500k, applied to balloon.
- Interest standstill begins with first payment; note total due as of Nov 30, 2023 was $1,113,090.74.
- Only remaining convertible note on balance sheet; failure to make payments within cure period nullifies agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1421636/000121390023093327/0001213900-23-093327-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1421636/000121390023093327/ea189546-8k_cbond.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-093327

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