---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-24-008027"
form_type: "8-K"
ticker: null
cik: "0001437491"
company_name: "RiskOn International, Inc."
filed_at: "2024-05-01T23:59:59+00:00"
generated_at: "2026-06-03T02:38:58.390340+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# RiskOn receives default notice on $6.875M notes; Ault becomes Exec Chairman, Spaziano named CEO

## Summary
- Received default notice from investor due to failure to list common stock on eligible market and failure to repay notes at maturity.
- Milton C. Ault III resigned as CEO, appointed Executive Chairman; Joseph M. Spaziano resigned as COO, appointed CEO effective April 30.
- Both Ault and Spaziano currently uncompensated for their new roles.
- Bonus pool of $25M triggered if BitNile.com revenue reaches $100M; Ault eligible for $10M.
- Company intends to defend its position if no amicable resolution with investors.

## SEC filing metadata
- accession: 0001214659-24-008027
- form_type: 8-K
- cik: 0001437491
- company_name: RiskOn International, Inc.
- filed_at: 2024-05-01T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.04, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437491/000121465924008027/0001214659-24-008027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437491/000121465924008027/z512438k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-24-008027
- JSON: https://secwatch.observer/filing/0001214659-24-008027.json
- Plain text: https://secwatch.observer/filing/0001214659-24-008027.txt

## Key facts
- Debt Financings
  RiskOn International, Inc. reported a default on convertible notes of $6,875,000 with Investors maturing maturity date.
  - Instrument: convertible notes
  - Principal: $6,875,000
  - Counterparty: Investors
  - Maturity: maturity date
  - Event: default
  source text: ” and collectively, the “ Investors ”), senior secured convertible notes (individually, a “ Note ” and collectively, the “ Notes ”) with an aggregate principal face amount of $6,875,000, which such Notes are convertible into shares of common stock, par value $0.001 per share of the Company (the “ Common Stock ”) and five-year warrants to purchase an aggregate of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437491/000121465924008027/0001214659-24-008027-index.htm
- Executive change
  Milton C. Ault, III was appointed as Executive Chairman at RiskOn International, Inc..
  - Action: appointed
  - Role: Executive Chairman
  source text: On the Effective Date, the Company appointed Mr. Ault as its Executive Chairman.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437491/000121465924008027/0001214659-24-008027-index.htm

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