secwatch.observer — SEC 8-K summary
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Issuer:     NightFood Holdings, Inc. (NGTF)
CIK:        0001593001
Form:       8-K
Filed at:   2024-05-15T23:59:59+00:00
Accession:  0001213900-24-043534
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Nightfood issues $395K convertible note to Mast Hill Fund, 12-month maturity
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- Issued promissory note to Mast Hill Fund for $395,000; net proceeds $335,750 after $59,250 OID.
- Note convertible into common shares at $0.033 per share; conversion capped at 4.99% beneficial ownership.
- Maturity 12 months; default triggers 150% penalty plus acceleration; prepayment allowed at 100% plus interest.
- Proceeds used for business development, compliance, and M&A expenses.
- Company subject to restrictions on additional debt, dividends, asset sales, and variable rate transactions until note repaid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1593001/000121390024043534/0001213900-24-043534-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1593001/000121390024043534/ea0206258-8k_nightfo.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-043534

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