secwatch.observer — SEC 8-K summary
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Issuer:     Crypto Co (CRCW)
CIK:        0001688126
Form:       8-K
Filed at:   2023-02-07T23:59:59+00:00
Accession:  0001493152-23-003867
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 5.03, 5.07
LLM model:  deepseek-v4-flash:cloud@v2

Crypto Company borrows $105k net via convertible note; authorized shares tripled to 150M
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- Net proceeds $105k from $115k principal convertible note (10% OID) issued to Fast Capital LLC.
- Conversion price set at 60% of lowest closing price in prior 20 trading days, convertible after 6 months.
- Note matures Jan 30, 2024; bears 10% interest (24% default); prepayable first 6 months at 15-40% premium.
- Authorized common shares increased from 50M to 150M via amendment approved by shareholders owning ~53%.
- Loan and share increase are dilutive; shares trade on OTC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1688126/000149315223003867/0001493152-23-003867-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1688126/000149315223003867/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-003867

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