{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-002908","form_type":"8-K","ticker":"MSGM","cik":"0001821175","company_name":"Motorsport Games Inc.","filed_at":"2023-01-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.788654+00:00","generated_at":"2026-06-20T06:45:10.379215+00:00","sec_items":["1.01","3.02","7.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Motorsport Games converts $1M debt into 338,983 shares; majority owner stake rises to 61.19%","bullets":["Exchanged $1,000,000 of line-of-credit debt (principal + interest) for 338,983 Class A common shares.","Pre-exchange Motorsport Network held ~51.51% of Class A stock; post-exchange stake rises to ~61.19%.","Company will file registration statement for resale of the new shares upon demand within 60 days of closing.","Motorsport Network also holds all 700,000 Class B shares, keeping its overall voting control."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-002908","json":"https://secwatch.observer/filing/0001493152-23-002908.json","markdown":"https://secwatch.observer/filing/0001493152-23-002908.md","text":"https://secwatch.observer/filing/0001493152-23-002908.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1821175/000149315223002908/0001493152-23-002908-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1821175/000149315223002908/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T06:45:10.379215+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d9153bbb4b0cd61ec315a05ec72bed850586ee26","claim":"Motorsport Games Inc. entered into Exchange Agreement with Motorsport Network, LLC valued at $1,000,000 (effective 2023-01-30).","evidence_excerpt":"On January 30, 2023, Motorsport Games Inc. (the “Company”) entered into a debt-for-equity exchange agreement (the “Exchange Agreement”) with Motorsport Network, LLC (“Motorsport Network”) whereby the Company issued 338,983 shares (the “Acquired Shares”) of its Class A common stock, par value $0.0001 per share (the “Class A Common Stock”), to Motorsport Network, which amount represents the aggregate number of shares of Class A Common Stock equal to $1,000,000 (the “Discharged Debt”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1821175/000149315223002908/0001493152-23-002908-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Motorsport Network, LLC"},{"label":"Value","value":"$1,000,000"},{"label":"Effective","value":"2023-01-30"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}