---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-015868"
form_type: "8-K"
ticker: "SDCH"
cik: "0001022505"
company_name: "SideChannel, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T07:49:18.454135+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# SideChannel issues 62M shares after SCS revenue milestone; Sellers now own 57.6% of stock

## Summary
- SCS achieved $5.7M trailing 12-month revenue, exceeding $5.5M earnout milestone.
- Board approved issuance of 62,016,618 common shares to Sellers (Second Tranche + working capital adjustment).
- Sellers now hold ~57.6% of 211,587,899 outstanding shares as of May 4, 2023.
- Shares subject to lock-up: no sales for 24 months from July 2022, but 20% can be sold after 12 months (after July 2023).

## SEC filing metadata
- accession: 0001493152-23-015868
- form_type: 8-K
- ticker: SDCH
- cik: 0001022505
- company_name: SideChannel, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1022505/000149315223015868/0001493152-23-015868-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1022505/000149315223015868/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-015868
- JSON: https://secwatch.observer/filing/0001493152-23-015868.json
- Plain text: https://secwatch.observer/filing/0001493152-23-015868.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.