secwatch.observer — SEC 8-K summary
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Issuer:     Accredited Solutions, Inc. (ASII)
CIK:        0001464865
Form:       8-K
Filed at:   2021-10-20T23:59:59+00:00
Accession:  0001477932-21-007468
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Good Hemp issues $275K promissory note and warrants to Jefferson Street Capital; net $230K
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- Issue of $275,000 promissory note (matures Aug 20, 2022), 10% interest; funded Oct 14, 2021 for net $230,000 after $25K OID and $20K expenses.
- Five-year warrants to purchase 185,185 shares at $1.35 per share, subject to anti-dilution adjustments.
- Note non-convertible unless default; conversion price at default is 75% of lowest VWAP over 10 trading days, capped at 4.99% beneficial ownership (non-waivable).
- Proceeds to be used for inventory financing and general working capital.
- Agreement includes customary representations, warranties, and covenants; breach constitutes event of default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1464865/000147793221007468/0001477932-21-007468-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1464865/000147793221007468/ghmp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-21-007468

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