other material
confidence high
sentiment negative
materiality 0.55
SCWorx extends promissory note to June 28; plans stock settlement of $502K arbitration award
SCWorx Corp.
- Promissory note amended weekly; latest maturity June 28, 2024; original $330K face ($300K cash), 5% interest, secured by all assets.
- Arbitration award of ~$502K due to vendor; judgment enforceable since June 13, but company expects stock-based settlement.
- Plans definitive agreement to issue common shares to satisfy judgment; vendor not expected to enforce pending settlement.