---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-24-000068"
form_type: "8-K"
ticker: null
cik: "0001906133"
company_name: "iCoreConnect Inc."
filed_at: "2024-01-05T23:59:59+00:00"
generated_at: "2026-06-07T03:32:12.397616+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# iCoreConnect issues $2M subordinated note, amends convertible notes for NASDAQ approval

## Summary
- Issued $2,000,000 subordinated note to PIGI Solutions to settle accounts payable; 15% interest, maturity Dec 31, 2024.
- Amended convertible notes (Oct 2023) and warrants to require shareholder approval per NASDAQ Rule 5635(d).
- Issued $100,000 convertible note to an existing investor; 12% interest, convertible at 120% of closing price, matures Dec 28, 2024.
- Subordinated note is secured by company assets but junior to senior lender Element.

## SEC filing metadata
- accession: 0001477932-24-000068
- form_type: 8-K
- cik: 0001906133
- company_name: iCoreConnect Inc.
- filed_at: 2024-01-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/0001477932-24-000068-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/icct_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-24-000068
- JSON: https://secwatch.observer/filing/0001477932-24-000068.json
- Plain text: https://secwatch.observer/filing/0001477932-24-000068.txt

## Key facts
- Debt Financings
  iCoreConnect Inc. incurred loan of $2,000,000 at 15% per annum maturing December 31, 2024.
  - Instrument: loan
  - Principal: $2,000,000
  - Rate: 15% per annum
  - Maturity: December 31, 2024
  - Event: incurrence
  source text: On December 29, 2023, iCoreConnect, Inc. (the “Company”) issued a subordinated note to a service provider in principal amount of $2,000,000 in exchange for conversion of an accounts payable in the amount of $2,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/0001477932-24-000068-index.htm
- Debt Financings
  iCoreConnect Inc. incurred convertible notes of $100,000 at 12% per annum maturing December 28, 2024.
  - Instrument: convertible notes
  - Principal: $100,000
  - Rate: 12% per annum
  - Maturity: December 28, 2024
  - Event: incurrence
  source text: On December 29, 2023, the Company entered into a securities purchase agreement with an existing investor, pursuant to which the Company issued the investor a convertible note in principal amount of $100,000 in exchange for $100,000 (the “Convertible Promissory Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/0001477932-24-000068-index.htm
- Debt Financings
  iCoreConnect Inc. amended convertible notes.
  - Instrument: convertible notes
  - Event: amendment
  source text: On December 29, 2023, the Company entered into amendments with holders of two an Amendment to Convertible Promissory Notes issued on October 13, 2023 and October 26, 2023 (the “Notes”) whereby the holders of the Notes agreed that the Notes would not be convertible into shares of Company Common stock unless and until the Company’s shareholders approve such conversion per NASDAQ Listing Rule 5635(d).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/0001477932-24-000068-index.htm
- Material Agreements
  iCoreConnect Inc. amended a notes offering (effective 2023-12-29).
  - Action: amendment
  - Agreement: notes offering
  - Effective: 2023-12-29
  source text: On December 29, 2023, the Company entered into amendments with holders of two an Amendment to Convertible Promissory Notes issued on October 13, 2023 and October 26, 2023 (the “Notes”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/0001477932-24-000068-index.htm
- Material Agreements
  iCoreConnect Inc. entered into a equity purchase valued at $100,000 (effective 2023-12-29).
  - Action: entry
  - Agreement: equity purchase
  - Value: $100,000
  - Effective: 2023-12-29
  source text: On December 29, 2023, the Company entered into a securities purchase agreement with an existing investor, pursuant to which the Company issued the investor a convertible note in principal amount of $100,000 in exchange for $100,000 (the “Convertible Promissory Note”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/0001477932-24-000068-index.htm
- Material Agreements
  iCoreConnect Inc. entered into a credit facility valued at $2,000,000 (effective 2023-12-29).
  - Action: entry
  - Agreement: credit facility
  - Value: $2,000,000
  - Effective: 2023-12-29
  source text: On December 29, 2023, iCoreConnect, Inc. (the “Company”) issued a subordinated note to a service provider in principal amount of $2,000,000 in exchange for conversion of an accounts payable in the amount of $2,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1906133/000147793224000068/0001477932-24-000068-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.