--- schema_version: "secwatch.filing_event.v1" accession: "0001437749-23-009012" form_type: "8-K" ticker: null cik: "0001043894" company_name: "WOLF ENERGY SERVICES INC." filed_at: "2023-04-03T23:59:59+00:00" generated_at: "2026-06-17T06:45:04.393329+00:00" event_type: "debt" sentiment: "negative" materiality_score: 0.6 calibrated_materiality_score: 0.6 confidence: "high" source: SEC EDGAR --- # Wolf Energy raises $502,500 via $184,800 note and $350,000 cash advance agreements ## Summary - Promissory note for $184,800 (net $165,000) issued to Red Road Holdings; 12% interest, 22% default rate, matures March 2024. - Subsidiary Pinnacle Frac enters two cash advance agreements, net proceeds $337,500; aggregate purchased amount $480,000. - Note requires ten monthly payments of $20,697.60; conversion at 75% of 5-day bid price upon default. - Company reserves 43,804,444 shares for potential note conversion; 4.99% beneficial ownership cap applies. - CEO Jimmy Galla personally guarantees the subsidiary's cash advance obligations. ## SEC filing metadata - accession: 0001437749-23-009012 - form_type: 8-K - cik: 0001043894 - company_name: WOLF ENERGY SERVICES INC. - filed_at: 2023-04-03T23:59:59+00:00 - event_type: debt - sentiment: negative - materiality_score: 0.6 - calibrated_materiality_score: 0.6 - confidence: high - sec_items: 1.01, 2.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/0001437749-23-009012-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/evtn20230331_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001437749-23-009012 - JSON: https://secwatch.observer/filing/0001437749-23-009012.json - Plain text: https://secwatch.observer/filing/0001437749-23-009012.txt ## Key facts - Debt Financings WOLF ENERGY SERVICES INC. entered an off-balance-sheet arrangement for debt of aggregate purchased amount of $480,000 with institutional financing parties. - Principal: aggregate purchased amount of $480,000 - Counterparty: institutional financing parties - Event: off balance sheet source text: Cash Advance and Future Receipts Agreements Effective March 29 2023, Pinnacle Frac Transport LLC, a wholly owned subsidiary of the Company (“Pinnacle Frac”), entered into separate agreements with an institutional financing parties (each, a “Purchaser”) to provide an aggregate net financing amount of approximately $350,000 prior to expenses and fees of approximately $12,500. evidence_url: https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/0001437749-23-009012-index.htm - Debt Financings WOLF ENERGY SERVICES INC. incurred convertible notes of $184,800 with accredited investor at twelve percent (12%) maturing March 27, 2024. - Instrument: convertible notes - Principal: $184,800 - Counterparty: accredited investor - Rate: twelve percent (12%) - Maturity: March 27, 2024 - Event: incurrence source text: sold the Investor a promissory note in the principal amount of $184,800 (the “Note”). The Note carries a one-time interest charge of twelve percent (12%) which was applied on the issuance date to the principal (22% upon the occurrence of an event of default) and has a maturity date of March 27, 2024. evidence_url: https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/0001437749-23-009012-index.htm - Material Agreements WOLF ENERGY SERVICES INC. entered into Purchase and Sale of Future Receipts with an institutional financing party (effective 2023-03-28). - Action: entry - Agreement: asset purchase - Counterparty: an institutional financing party - Effective: 2023-03-28 source text: Effective March 29 2023, Pinnacle Frac Transport LLC, a wholly owned subsidiary of the Company (“Pinnacle Frac”), entered into separate agreements with an institutional financing parties (each, a “Purchaser”) to provide an aggregate net financing amount of approximately $350,000 prior to expenses and fees of approximately $12,500. Pinnacle Frac entered into a Purchase and Sale of Future Receipts dated as of March 28, 2023 (the “PSFR”); and Pinnacle Frac entered into a Standard Merchant Cash Advance Agreement dated as of March 28, 2023 (the “MCA”). evidence_url: https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/0001437749-23-009012-index.htm - Material Agreements WOLF ENERGY SERVICES INC. entered into Securities Purchase Agreement with an accredited investor valued at $184,800 (effective 2023-03-29). - Action: entry - Agreement: notes offering - Counterparty: an accredited investor - Value: $184,800 - Effective: 2023-03-29 source text: Effective March 29, 2023, Wolf Energy Services Inc., a Florida corporation (the “Company”) entered into a Securities Purchase Agreement dated March 27, 2023 (the “Purchase Agreement”) with an accredited investor (the “Investor”), pursuant to which the Company sold the Investor a promissory note in the principal amount of $184,800 (the “Note”). evidence_url: https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/0001437749-23-009012-index.htm - Material Agreements WOLF ENERGY SERVICES INC. entered into Standard Merchant Cash Advance Agreement with an institutional financing party (effective 2023-03-28). - Action: entry - Agreement: asset purchase - Counterparty: an institutional financing party - Effective: 2023-03-28 source text: Effective March 29 2023, Pinnacle Frac Transport LLC, a wholly owned subsidiary of the Company (“Pinnacle Frac”), entered into separate agreements with an institutional financing parties (each, a “Purchaser”) to provide an aggregate net financing amount of approximately $350,000 prior to expenses and fees of approximately $12,500. Pinnacle Frac entered into a Purchase and Sale of Future Receipts dated as of March 28, 2023 (the “PSFR”); and Pinnacle Frac entered into a Standard Merchant Cash Advance Agreement dated as of March 28, 2023 (the “MCA”). evidence_url: https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/0001437749-23-009012-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.