secwatch.observer — SEC 8-K summary
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Issuer:     CalEthos, Inc. (GEDC)
CIK:        0001174891
Form:       8-K
Filed at:   2021-09-21T23:59:59+00:00
Accession:  0001493152-21-023242
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CalEthos raises $3.5M via OID convertible note, grants 11.5M shares to CEO/CTO
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- Sold $3.85M convertible note (10% OID) and Series A warrant for 1.54M shares at $1.87; net proceeds $3.5M.
- Note converts at $1.25/share; automatic conversion triggers on registration of 5M+ shares or $3.00 closing price for 60 days.
- Entered consulting agreements with CEO Michael Campbell (via M1 Advisors) and CTO Hyuncheol Kim at $200K/yr each.
- Granted 1.5M shares to M1 Advisors and 10M shares to Hyuncheol Kim, vesting on ASIC chip development milestones.
- After stock grants, 25.97M shares outstanding; M1 Advisors holds ~40.25% on a fully-diluted basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1174891/000149315221023242/0001493152-21-023242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1174891/000149315221023242/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-023242

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