secwatch.observer — SEC 8-K summary
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Issuer:     SCWorx Corp. (WORX)
CIK:        0001674227
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0001213900-24-033830
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 8.01, 3.01
LLM model:  deepseek-v4-flash:cloud@v2

SCWorx receives Nasdaq delisting notice for late 10-K; issues $330K secured note and faces $502K judgment
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- Nasdaq notified SCWorx on Apr 17, 2024 for failure to file 10-K by Apr 15 extended due date; company working to complete audit.
- Issued $330K secured promissory note (net $300K after $30K OID), 5% interest, due May 10, 2024, secured by all assets.
- Entered non-binding term sheet for larger financing; note and arbitration judgment expected to be paid from its proceeds.
- Arbitration judgment of ~$502K; vendor agreed not to enforce until May 12, 2024, pending payment from capital raised.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024033830/0001213900-24-033830-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024033830/ea0204018-8k_scworx.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-033830

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