{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-25-078601","form_type":"8-K","ticker":"BRLS","cik":"0001852973","company_name":"Borealis Foods Inc.","filed_at":"2025-08-19T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.364576+00:00","generated_at":"2026-05-17T11:33:08.071245+00:00","sec_items":["1.01","2.03","5.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Borealis Foods borrows $980k from Chairman at 10%; CEO salary deferred from Feb 2025","bullets":["Issued promissory notes to Chairman for $980k aggregate principal, 10% interest, due on demand.","Chairman had advanced $980k in funds from June 5 to Aug 14, 2025, now formalized.","CEO salary accrued but not paid from Feb 1, 2025; $125k accrued payroll expense recorded in Q2.","Notes may be prepaid without penalty; default rate increases to 15%."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-25-078601","json":"https://secwatch.observer/filing/0001213900-25-078601.json","markdown":"https://secwatch.observer/filing/0001213900-25-078601.md","text":"https://secwatch.observer/filing/0001213900-25-078601.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025078601/0001213900-25-078601-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025078601/ea0253749-8k_borealis.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T11:33:08.071245+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0ac9f8250a50f39ca0a4287b88ff4fb401f392ac","claim":"Borealis Foods Inc. incurred loan of $980,000 with Chairman of the Company’s Board of Directors at 10% per annum maturing due on demand.","evidence_excerpt":"issued promissory notes to the Company’s Chairman of the Company’s Board of Directors (the “Chairman”) in the aggregate principal amount of $980,000 (the “Promissory Notes”). The Promissory Notes bears interest at a rate of 10% per annum and are due on demand.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1852973/000121390025078601/0001213900-25-078601-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$980,000"},{"label":"Counterparty","value":"Chairman of the Company’s Board of Directors"},{"label":"Rate","value":"10% per annum"},{"label":"Maturity","value":"due on demand"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}