---
schema_version: "secwatch.filing_event.v1"
accession: "0001393905-22-000031"
form_type: "8-K"
ticker: null
cik: "0001575659"
company_name: "Rapid Therapeutic Science Laboratories, Inc."
filed_at: "2022-02-01T23:59:59+00:00"
generated_at: "2026-06-27T12:58:52.066891+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Rapid Therapeutic raises $400K via 18% convertible note with insider Suggs

## Summary
- Issued $400,000 promissory note to director J. Scott Suggs; interest 18% compounded monthly.
- Maturity January 26, 2023; prepayment penalty of up to $101,760 if company lists on national exchange.
- Upon event of default, holder can convert at 75% of 5-day VWAP (floor $0.000075/share).
- Proceeds used for working capital; company reserved ~10.8M shares initially, up to 6.3B shares on full conversion.
- Note unsecured; prohibits major asset sales without holder consent while outstanding.

## SEC filing metadata
- accession: 0001393905-22-000031
- form_type: 8-K
- cik: 0001575659
- company_name: Rapid Therapeutic Science Laboratories, Inc.
- filed_at: 2022-02-01T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 3.03, 9.01, 6.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1575659/000139390522000031/0001393905-22-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1575659/000139390522000031/rtsl-20220128.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393905-22-000031
- JSON: https://secwatch.observer/filing/0001393905-22-000031.json
- Plain text: https://secwatch.observer/filing/0001393905-22-000031.txt

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