secwatch.observer — SEC 8-K summary
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Issuer:     BLUSKY AI INC. (BSAI)
CIK:        0001416090
Form:       8-K
Filed at:   2022-06-17T23:59:59+00:00
Accession:  0001493152-22-017013
Event type: litigation
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inception Mining to issue 10 billion shares to settle Antilles Family Office litigation
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- Settlement resolves litigation over a $3M loan; company issued $4.25M face value convertible note in 2019.
- Company will issue 10 billion common shares to Antilles; 541,449,789 shares reserved immediately.
- Company may terminate remaining share issuance by paying $1M within 1 year of court approval or $1.5M thereafter.
- Outstanding amount as of June 2, 2022 was $6,001,564.76; loan payments have been delinquent since March 31, 2021.
- Settlement conditioned on court approval under Securities Act Section 3(a)(10); order jointly requested on June 16, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1416090/000149315222017013/0001493152-22-017013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1416090/000149315222017013/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-017013

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