secwatch.observer — SEC 8-K summary
======================================

Issuer:     KONA GOLD BEVERAGE, INC. (—)
CIK:        0001802546
Form:       8-K
Filed at:   2023-03-21T23:59:59+00:00
Accession:  0001493152-23-008306
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kona Gold Beverage issues $475K secured convertible note and 80M-share warrant to Mast Hill Fund
--------------------------------------------------------------------------------

- Issued $475,000 senior secured convertible note to Mast Hill Fund, L.P.; net proceeds of $437,000 after fees.
- Note bears 10% annual interest, matures in 12 months, convertible at $0.0045 per share.
- Granted warrant to purchase up to 80,000,000 common shares at $0.0045 per share, exercisable for 5 years.
- Monthly mandatory redemption based on case sales: $2 per 12-count case sold, starting May 10, 2023.
- Note secured by all company assets, subordinate to prior debenture; conversion blocker at 4.99%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1802546/000149315223008306/0001493152-23-008306-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1802546/000149315223008306/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-008306

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