secwatch.observer — SEC 8-K summary
======================================

Issuer:     Alzamend Neuro, Inc. (ALZN)
CIK:        0001677077
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001214659-24-007877
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alzamend Neuro raises $400K via convertible preferred and short-term note
-------------------------------------------------------------------------

- Sold 100 Series B preferred shares and warrants for 100K common shares to Ault Lending for $100K; total $2.1M of $6M facility drawn.
- Issued $310K face promissory note (15% interest, $10K OID) to Orchid Finance LLC; matures May 13, 2024.
- Note repayment guaranteed by Ault Lending and Milton C. Ault, Vice Chairman of Alzamend.
- Proceeds used for working capital; note matures in two weeks, creating near-term repayment risk.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677077/000121465924007877/0001214659-24-007877-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677077/000121465924007877/g4302428k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-007877

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer