{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-012910","form_type":"8-K","ticker":null,"cik":"0001708410","company_name":"SIMPLICITY ESPORTS & GAMING Co","filed_at":"2023-04-19T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.146658+00:00","generated_at":"2026-06-16T23:44:58.183602+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"Simplicity Esports issues two $16,500 convertible notes to Ionic Ventures and FirstFire Global Opportunities","bullets":["Each note has $16,500 principal, $1,500 OID, net proceeds $15,000, 12% interest, matures July 8, 2023.","Conversion price $0.0175 per share; beneficial ownership limit 4.99% (waivable to 9.99% on 61 days' notice).","Proceeds for working capital; prepayment allowed with $660 interest guaranteed.","Both SPAs contain inadvertent warrant references; company will amend to remove them."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-012910","json":"https://secwatch.observer/filing/0001493152-23-012910.json","markdown":"https://secwatch.observer/filing/0001493152-23-012910.md","text":"https://secwatch.observer/filing/0001493152-23-012910.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-16T23:44:58.183602+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":"0579db9c0c9ca97bdb3e53bba8881182b566530a","claim":"SIMPLICITY ESPORTS & GAMING Co incurred convertible notes of $16,500 with FirstFire Global Opportunities Fund LLC at 12% per annum maturing July 8, 2023.","evidence_excerpt":"the Company issued a 12% convertible promissory note to FirstFire (the \"March 2023 FirstFire Note\") with a maturity date of July 8, 2023, in the principal sum of $16,500","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$16,500"},{"label":"Counterparty","value":"FirstFire Global Opportunities Fund LLC"},{"label":"Rate","value":"12% per annum"},{"label":"Maturity","value":"July 8, 2023"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"2d99f79f889f1c106726d40b820bda905b8e70ff","claim":"SIMPLICITY ESPORTS & GAMING Co incurred convertible notes of $16,500 with Ionic Ventures, LLC at 12% per annum maturing July 8, 2023.","evidence_excerpt":"the Company issued a 12% convertible promissory note to Ionic (the \"March 2023 Ionic Note\") with a maturity date of July 8, 2023, in the principal sum of $16,500","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$16,500"},{"label":"Counterparty","value":"Ionic Ventures, LLC"},{"label":"Rate","value":"12% per annum"},{"label":"Maturity","value":"July 8, 2023"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"a89fcd2b4e83fcbd8a4aecb95fe60cec54dccfa1","claim":"SIMPLICITY ESPORTS & GAMING Co entered into March 2023 Ionic SPA with Ionic Ventures, LLC (effective 2023-03-08).","evidence_excerpt":"On March 8, 2023, Simplicity Esports and Gaming Company (the “Company”) entered into a securities purchase agreement (the “March 2023 Ionic SPA”), dated as of March 8, 2023, with Ionic Ventures, LLC (“Ionic”), pursuant to which the Company issued a 12% convertible promissory note to Ionic (the “March 2023 Ionic Note”) with a maturity date of July 8, 2023, in the principal sum of $16,500.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Ionic Ventures, LLC"},{"label":"Effective","value":"2023-03-08"}],"fact_type":"material_agreement"},{"claim_id":"ebe59a7b23e37f7824fdc20cec28587e4a2553e3","claim":"SIMPLICITY ESPORTS & GAMING Co entered into March 2023 FirstFire SPA with FirstFire Global Opportunities Fund LLC (effective 2023-03-08).","evidence_excerpt":"On March 8, 2023, the Company entered into a securities purchase agreement (the “March 2023 FirstFire SPA”), dated as of March 8, 2023, with FirstFire Global Opportunities Fund LLC (“FirstFire”), pursuant to which the Company issued a 12% convertible promissory note to FirstFire (the “March 2023 FirstFire Note”) with a maturity date of July 8, 2023, in the principal sum of $16,500.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1708410/000149315223012910/0001493152-23-012910-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"FirstFire Global Opportunities Fund LLC"},{"label":"Effective","value":"2023-03-08"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}