secwatch.observer — SEC 8-K summary
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Issuer:     HALLMARK VENTURE GROUP, INC. (HLLK)
CIK:        0001331421
Form:       8-K
Filed at:   2023-04-10T23:59:59+00:00
Accession:  0001493152-23-011646
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hallmark Venture Group issues $50K convertible note to related party Selkirk Global Holdings
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- Issued $50K 10% convertible promissory note to Selkirk Global Holdings, LLC, a related party controlled by director Paul Strickland.
- Note matures April 5, 2024, carries 10% original issue discount (OID), and is convertible at 55% of 20-day VWAP before conversion.
- Proceeds used for direct payment of company expenses; prepayment allowed at 100% within 90 days, 150% from 91-180 days.
- Conversion price includes discounts for DTC chill or non-DWAC status; default triggers increase to 150% of principal.
- Transaction is a related-party financing with potential dilution for existing shareholders.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1331421/000149315223011646/0001493152-23-011646-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1331421/000149315223011646/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-011646

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