---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-016216"
form_type: "8-K"
ticker: "WBSR"
cik: "0001645155"
company_name: "Webstar Technology Group Inc."
filed_at: "2022-06-09T23:59:59+00:00"
generated_at: "2026-06-25T03:11:37.528191+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Webstar settles $1.64M debt with Chairman Owens via $1.1M convertible note, $0.01 conversion

## Summary
- Settled $1,644,583 debt (loans $756,450 + accrued salary $874,833) with Chairman/CTO James Owens.
- Issued $1,101,000 convertible promissory note at 8% interest, 24-month maturity, convertible at $0.01/share.
- Owens forgives $543,583 balance and reduces annual salary to $1.00 per year.
- Board canceled stock option grant to CFO dated December 9, 2022 (per filing).

## SEC filing metadata
- accession: 0001493152-22-016216
- form_type: 8-K
- ticker: WBSR
- cik: 0001645155
- company_name: Webstar Technology Group Inc.
- filed_at: 2022-06-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1645155/000149315222016216/0001493152-22-016216-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1645155/000149315222016216/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-016216
- JSON: https://secwatch.observer/filing/0001493152-22-016216.json
- Plain text: https://secwatch.observer/filing/0001493152-22-016216.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.