---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-067344"
form_type: "8-K"
ticker: null
cik: "0001822145"
company_name: "Presto Automation Inc."
filed_at: "2024-08-12T23:59:59+00:00"
generated_at: "2026-05-31T10:07:50.949867+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Presto Automation faces Nasdaq delisting, cash crisis, CFO change; lenders may foreclose Aug 16

## Summary
- Nasdaq suspended trading Aug 8, 2024; delisting filed; stock now on OTC Pink under PRST.
- CFO Stanley Mbugua resigned; Lillian Meyer appointed CFO effective Aug 26, 2024.
- Company had virtually no cash as of Aug 9; defaults under loan agreements; lenders may foreclose as soon as Aug 16, 2024.
- Issued $650K subordinated convertible note to Remus (affiliate of director Krishna Gupta) to meet payroll.
- Anti-dilution triggers from low-price share issuance could result in ~15.5 billion fully diluted shares.

## SEC filing metadata
- accession: 0001213900-24-067344
- form_type: 8-K
- cik: 0001822145
- company_name: Presto Automation Inc.
- filed_at: 2024-08-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 3.02, 8.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1822145/000121390024067344/0001213900-24-067344-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1822145/000121390024067344/ea0211102-8k_presto.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-067344
- JSON: https://secwatch.observer/filing/0001213900-24-067344.json
- Plain text: https://secwatch.observer/filing/0001213900-24-067344.txt

## Key facts
- Executive change
  Stanley Mbugua departed as Chief Financial Officer at Presto Automation Inc..
  - Action: stepped down
  - Role: Chief Financial Officer
  source text: the Company and Stanley Mbugua, the Company’s Chief Financial Officer, agreed that Mr. Mbugua would step down from his role as Chief Financial Officer, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000121390024067344/0001213900-24-067344-index.htm
- Executive change
  Stephen Herbert resigned as Director at Presto Automation Inc..
  - Action: resigned
  - Role: Director
  source text: Stephen Herbert submitted his resignation from the board of directors of the Company effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000121390024067344/0001213900-24-067344-index.htm
- Executive change
  Lillian Meyer was appointed as Chief Financial Officer at Presto Automation Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: the Company extended an offer to Lillian Meyer which she accepted to serve as the Company’s Chief Financial Officer commencing on August 26, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1822145/000121390024067344/0001213900-24-067344-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.