secwatch.observer — SEC 8-K summary
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Issuer:     SCWorx Corp. (WORX)
CIK:        0001674227
Form:       8-K
Filed at:   2024-07-05T23:59:59+00:00
Accession:  0001213900-24-059403
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 8.01
LLM model:  deepseek-v4-flash:cloud@v2

SCWorx extends promissory note maturity to July 12; plans stock issuance to settle $502K arbitration award
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- Promissory note of $330K face ($300K cash), 5% interest, secured by all assets, maturity extended weekly to July 12, 2024.
- Arbitration award of ~$502K (including interest) owed to vendor; vendor had agreed to non-enforcement until June 13, 2024.
- Company anticipates settling arbitration judgment via issuance of common stock; definitive agreement expected soon.
- Vendor currently has right to enforce judgment but company does not anticipate enforcement while settlement pending.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024059403/0001213900-24-059403-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674227/000121390024059403/ea0209014-8k_scworx.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-059403

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