secwatch.observer — SEC 8-K summary
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Issuer:     RiskOn International, Inc. (—)
CIK:        0001437491
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0001214659-24-008027
Event type: debt
Sentiment:  negative
Materiality: 0.80
Item codes: 2.04, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437491/000121465924008027/0001214659-24-008027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437491/000121465924008027/z512438k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-008027

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