secwatch.observer — SEC 8-K summary
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Issuer:     Resonate Blends, Inc. (KOAN)
CIK:        0000897078
Form:       8-K
Filed at:   2022-02-10T23:59:59+00:00
Accession:  0001493152-22-003749
Event type: debt
Sentiment:  negative
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Resonate Blends issues $110K convertible notes at 10%, conversion at $0.15 or 75% VWAP
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- Issued two convertible notes of $55K each for $110K aggregate principal; received $100K after 10% original issue discount.
- Notes bear 10% interest, mature nine months from Feb 4, 2022; prepayable but with default interest.
- Conversion price fixed at $0.15/share; if no qualified offering ($2M+) by 5 months, becomes 75% of 20-day VWAP.
- Issued 60K commitment shares per investor and warrants to buy 62,500 shares at $0.40 each.
- Most favored nation clause lets investors claim any lower price from future securities within six months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/897078/000149315222003749/0001493152-22-003749-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/897078/000149315222003749/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-003749

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