secwatch.observer — SEC 8-K summary
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Issuer:     Madison Technologies Inc. (MDEX)
CIK:        0001318268
Form:       8-K
Filed at:   2022-05-24T23:59:59+00:00
Accession:  0001493152-22-014931
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Madison Technologies amends Top Dog acquisition: 25M shares, $3.5M EBITDA milestone by 2024
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- Purchase price set at 25,000,000 shares of common stock, subject to adjustment for stock splits.
- Milestone for release of shares: Top Dog must achieve at least $3.5M EBITDA in calendar 2024.
- Holdback shares cancelled if Top Dog fails to repay all intercompany loans by Dec 31, 2023.
- Loan agreement amended; total commitment $1,757,500 (including $507,500 already outstanding), interest 5% (24% default).
- Closing period extended to 238 days from original date; financial statements due May 31, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1318268/000149315222014931/0001493152-22-014931-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1318268/000149315222014931/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-014931

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