secwatch.observer — SEC 8-K summary
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Issuer:     Veritas Farms, Inc. (—)
CIK:        0001669400
Form:       8-K
Filed at:   2024-01-05T23:59:59+00:00
Accession:  0001213900-24-001529
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Veritas Farms issues $3M secured convertible note to principal shareholder; extends prior note maturity to 2027
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- Issued secured convertible promissory note for up to $3,000,000 to Cornelis F. Wit Revocable Living Trust, a principal shareholder.
- Note convertible at $0.02 per share, interest 10% per annum, matures January 1, 2027.
- Proceeds used for working capital; note secured by all company assets.
- Second amendment extends maturity of prior $3M note from October 1, 2024 to January 1, 2027.
- The prior note was originally dated October 12, 2021, amended March 9, 2022; this amendment further extends.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1669400/000121390024001529/0001213900-24-001529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1669400/000121390024001529/ea191263-8k_veritas.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-001529

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