secwatch.observer — SEC 8-K summary
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Issuer:     Oncotelic Therapeutics, Inc. (OTLC)
CIK:        0000908259
Form:       8-K
Filed at:   2022-06-03T23:59:59+00:00
Accession:  0001493152-22-015862
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Oncotelic issues $605K convertible note to Mast Hill; uses up to $250K to repay prior debt
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- Issued $605,000 convertible promissory note to Mast Hill Fund, LP at 12% interest, convertible at $0.10 per share.
- Also issued 3,025,000 warrants with exercise price of $0.20 per share.
- Net gross proceeds to company up to $250,000 used to repay prior notes from Talos and FirstFire.
- Finder's fee of 10% of gross proceeds and 10% warrant coverage payable to JH Darbie & Co.
- Conversion and warrants could cause significant dilution; maturity one year from issuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/908259/000149315222015862/0001493152-22-015862-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/908259/000149315222015862/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-015862

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