secwatch.observer — SEC 8-K summary
======================================

Issuer:     DSG Global Inc. (DSGT)
CIK:        0001413909
Form:       8-K
Filed at:   2021-09-27T23:59:59+00:00
Accession:  0001493152-21-023898
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

DSG Global issues $2.4M promissory note to Tiger Trout with 40% discount conversion feature
--------------------------------------------------------------------------------

- Received $2,000,000 cash from Tiger Trout Capital for a $2,400,000 unsecured 90-day note (inclusive of $400,000 OID).
- Note bears 9% interest; additional $100,000 guaranteed interest added each month unpaid after Dec 20, 2021.
- Upon default, holder may convert outstanding principal or interest at 40% discount to lowest trading price over prior 30 days.
- Note matures by June 20, 2022 or upon receipt of $2.5M from Maxim Group offering (Form S-1 No. 333-255409).
- OID of $400,000 represents 20% financing cost for 90-day term; default interest rate of 24% per annum.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1413909/000149315221023898/0001493152-21-023898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1413909/000149315221023898/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-023898

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