secwatch.observer — SEC 8-K summary
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Issuer:     WOLF ENERGY SERVICES INC. (—)
CIK:        0001043894
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001437749-23-009012
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wolf Energy raises $502,500 via $184,800 note and $350,000 cash advance agreements
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/0001437749-23-009012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1043894/000143774923009012/evtn20230331_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-009012

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