secwatch.observer — SEC 8-K summary
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Issuer:     Balance Labs, Inc. (BLNC)
CIK:        0001632121
Form:       8-K
Filed at:   2022-02-25T23:59:59+00:00
Accession:  0001493152-22-005514
Event type: other_material
Sentiment:  negative
Materiality: 0.25
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Balance Labs sells 28.7M Descrypto shares for $287; ownership reduces to 7.2M shares
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- On Feb 18, 2022, Balance Labs sold 28,700,337 shares of Descrypto common stock for $287 total ($0.00001/share).
- Post-sale, Balance Labs owns 7,175,084 shares of Descrypto, down from 35,875,421 after a prior November redemption.
- The Redemption Agreement is void if Descrypto fails to raise $2M and acquire a blockchain company within 12 months.
- Balance Labs now holds 7.2M shares of Descrypto, representing a lower ownership percentage than its prior 46.1% stake from the June 2021 share exchange.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1632121/000149315222005514/0001493152-22-005514-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1632121/000149315222005514/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-005514

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