---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-24-001117"
form_type: "8-K"
ticker: null
cik: "0001285543"
company_name: "Zerify, Inc."
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-04T23:42:08.796105+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Zerify exchanges 13.1B warrants and $1M note for Series C/D convertible preferred stock

## Summary
- Issued 5,496 Series C shares (conversion price $0.0004) to retire 11.2B warrants and $1M note.
- Issued 460 Series D shares (conversion price $0.00025) to retire 1.84B warrants.
- Full conversion could add ~15.6B common shares, massively diluting existing ~4B shares outstanding.
- Company agrees to pursue reverse stock split and refrain from future issuances below $0.00025.
- Exchange qualifies for Section 3(a)(9), making converted shares free-trading without restriction.

## SEC filing metadata
- accession: 0001477932-24-001117
- form_type: 8-K
- cik: 0001285543
- company_name: Zerify, Inc.
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1285543/000147793224001117/0001477932-24-001117-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1285543/000147793224001117/zrfy_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-24-001117
- JSON: https://secwatch.observer/filing/0001477932-24-001117.json
- Plain text: https://secwatch.observer/filing/0001477932-24-001117.txt

## Key facts
- Material Agreements
  Zerify, Inc. entered into Series D Exchange Agreement with Walleye Opportunities Master Fund Ltd. (effective 2024-02-26).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Walleye Opportunities Master Fund Ltd.
  - Effective: 2024-02-26
  source text: on February 26, 2024, the Company entered into an exchange agreement (the “Series D Exchange Agreement”) with existing an existing investor, whereby the Company is to issue 460 shares of Series D Convertible Preferred Stock (the “Series D Preferred Stock”) in exchange for 1,838,800,003 issued and outstanding warrants.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1285543/000147793224001117/0001477932-24-001117-index.htm
- Material Agreements
  Zerify, Inc. entered into Series C Exchange Agreements (effective 2024-02-27).
  - Action: entry
  - Agreement: equity purchase
  - Effective: 2024-02-27
  source text: On February 27, 2024, Zerify, Inc., a Wyoming corporation (the “Company”), entered into seven separate exchange agreements (collectively, the “Series C Exchange Agreements”) with existing investors, whereby the Company is to issue a total of 5,496 shares of Series C Convertible Preferred Stock (the “Series C Preferred Stock”) in exchange for a total of 11,234,924,850 issued and outstanding warrants and a $1,000,000 promissory note.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1285543/000147793224001117/0001477932-24-001117-index.htm

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