secwatch.observer — SEC 8-K summary
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Issuer:     Crypto Co (CRCW)
CIK:        0001688126
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0001493152-23-007448
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

Crypto Co. issues $54K convertible note with 65% discount conversion; extends other debt
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- Borrowed $54,250 from 1800 Diagonal Lending via convertible note due March 2024, 10% interest (22% default).
- Conversion price set at 65% of lowest 10-day VWAP before conversion, subject to 4.99% ownership cap.
- Prepayment penalties escalate from 115% to 125% over 180 days; after that, mutual consent required.
- Extended maturity of AJB Capital and Efrat Investments notes to Jan 2024; amended warrants to $0.50 and issued new prefunded warrants.
- Note is secured by a significant asset disposal restriction and contains standard events of default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1688126/000149315223007448/0001493152-23-007448-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1688126/000149315223007448/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-007448

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