secwatch.observer — SEC 8-K summary
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Issuer:     Oncotelic Therapeutics, Inc. (OTLC)
CIK:        0000908259
Form:       8-K
Filed at:   2021-12-15T23:59:59+00:00
Accession:  0001493152-21-031598
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 8.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oncotelic issues $0.75M in convertible notes at $0.07/sh; repays $307.5K Geneva Notes
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- Issued three convertible notes on Dec 9, 12, 15, 2021 totaling $0.75M gross; part of a $1.25M financing round.
- Notes bear 12% interest, mature in one year, convertible at $0.07 per share; prepayment permitted with 3 days' notice.
- Proceeds used for working capital, debt repayment, and payroll; restrictions on loans to officers/directors apply.
- Fully repaid May and June 2021 Geneva Notes ($203,750 + $103,750) with interest and prepayment penalty.
- JH Darbie & Co. receives 10% finder's fee in cash and warrants equal to 10% coverage at conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908259/000149315221031598/0001493152-21-031598-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908259/000149315221031598/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-21-031598

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