secwatch.observer — SEC 8-K summary
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Issuer:     SCHMITT INDUSTRIES INC (—)
CIK:        0000922612
Form:       8-K
Filed at:   2026-05-28T20:42:50+00:00
Accession:  0001398344-26-009935
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 2.04
LLM model:  deepseek-v4-flash:cloud@v2

Schmitt Industries gets default notice on $4.28M in notes from Sententia Capital
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- On May 11, 2026, Schmitt received Notice of Default from Sententia Capital Management LLC claiming total obligation of $4,280,626.78.
- Obligation includes $2,638,885.21 under Consolidated Promissory Note dated July 14, 2023.
- Also includes $402,131.51 under 12% Secured Convertible Promissory Note issued by subsidiary Schmitt Measurement Systems.
- Notes are secured by Stock Pledge Agreement and Security Agreement; default may accelerate repayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/922612/000139834426009935/0001398344-26-009935-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/922612/000139834426009935/fp0099099-2_8kixbrl.htm
  HTML page:      https://secwatch.observer/filing/0001398344-26-009935

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