secwatch.observer — SEC 8-K summary
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Issuer:     Resonate Blends, Inc. (KOAN)
CIK:        0000897078
Form:       8-K
Filed at:   2022-09-20T23:59:59+00:00
Accession:  0001493152-22-026307
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Resonate Blends issues $600K convertible note to AJB Capital; receives $526.5K net
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- Convertible promissory note issued for $600K principal; net proceeds $526.5K after OID and fees.
- Note bears 12% interest, matures in six months (extendable to 12 months at 15%).
- Conversion price set at lower of 20-day VWAP at issuance or conversion date.
- Issued 5.57M commitment shares (3M returnable) and warrant for 1M shares at $0.25.
- Investor gets right of first refusal on future offerings; restrictions on variable rate debt below $0.07.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/897078/000149315222026307/0001493152-22-026307-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/897078/000149315222026307/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-026307

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