secwatch.observer — SEC 8-K summary
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Issuer:     Accredited Solutions, Inc. (ASII)
CIK:        0001464865
Form:       8-K
Filed at:   2022-08-04T23:59:59+00:00
Accession:  0001477932-22-005634
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Accredited Solutions issues $129K convertible note at 65% discount; issues 80M shares to Petro X shareholders
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- Issued 9% convertible promissory note for $129,250 (net $125K) to 1800 Diagonal Lending, convertible at 65% of market price after 180 days.
- Note matures July 27, 2023; prepayment premium of 115-125% allowed only before 180 days; no prepayment after.
- Issued 80,000,000 shares of common stock to former shareholders of Petro X Solutions as earnout consideration from May 2022 merger.
- Total outstanding shares after issuances: ~185M (assuming prior ~105M plus 80M, excluding conversion shares).
- Proceeds used for general working capital; legal/due diligence fees of $4,250 deducted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1464865/000147793222005634/0001477932-22-005634-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1464865/000147793222005634/ghmp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-22-005634

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