secwatch.observer — SEC 8-K summary
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Issuer:     APPYEA, INC (APYP)
CIK:        0001568969
Form:       8-K
Filed at:   2022-12-08T23:59:59+00:00
Accession:  0001493152-22-034887
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

AppYea issues $68K convertible note at 65% discount to lowest trading price; heavy prepayment penalties
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- Sold $68,000 convertible promissory note to 1800 Diagonal Lending LLC at 8% interest (22% default rate), maturing Nov 23, 2023.
- Conversion price equals 65% of lowest trading price for 10 prior days; conversion allowed after 180 days.
- Prepayment allowed before 180 days with penalties of 115%-125% of principal depending on timing.
- Default penalties up to 300% of note value; liquidation preference over assets if not repaid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568969/000149315222034887/0001493152-22-034887-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568969/000149315222034887/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-034887

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