{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-017322","form_type":"8-K","ticker":"PPCB","cik":"0001517681","company_name":"Propanc Biopharma, Inc.","filed_at":"2023-05-15T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.206728+00:00","generated_at":"2026-06-15T01:05:15.828088+00:00","sec_items":["1.01","2.03","2.04","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Propanc Biopharma defaults on $125K convertible note; enters $5M equity facility","bullets":["Entered equity line facility for up to $5M over 36 months; shares sold at 80% of lowest VWAP.","Issued $125K 10% convertible note with $25K OID; $12.5K guaranteed interest; due in 7 monthly payments from March 24, 2023.","Company in default as of March 24, 2023 for failure to make payments and reverse split without consent; discussions to cure.","Warrant holder exercised $150K of Series B warrants; terms extended to March 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-017322","json":"https://secwatch.observer/filing/0001493152-23-017322.json","markdown":"https://secwatch.observer/filing/0001493152-23-017322.md","text":"https://secwatch.observer/filing/0001493152-23-017322.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T01:05:15.828088+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":"dc58de4119e0d6bf6641ef0bc94cc92c880fbdd2","claim":"Propanc Biopharma, Inc. reported a default on convertible notes.","evidence_excerpt":"As of March 24, 2023, the Company was in default under the Note for failure to pay the initial and subsequent monthly payments of principal and accrued interest","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"},{"claim_id":"e26bc8f1bad2c4e6e38958e9723a2f1198e41110","claim":"Propanc Biopharma, Inc. incurred convertible notes of $125,000 at 10% per annum maturing October 24, 2023.","evidence_excerpt":"the Company issued the Investor a 10% unsecured convertible promissory note, dated November 3, 2022, with an aggregate face value of $125,000","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$125,000"},{"label":"Rate","value":"10% per annum"},{"label":"Maturity","value":"October 24, 2023"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"b634bfb87eaa43dc955adedeeea480d91c4b3cad","claim":"Propanc Biopharma, Inc. entered into Purchase Agreement with the Investor valued at $125,000 (effective 2022-11-03).","evidence_excerpt":"entered into a note purchase agreement (the “Purchase Agreement”), pursuant to which the Company issued the Investor a 10% unsecured convertible promissory note, dated November 3, 2022, with an aggregate face value of $125,000","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"the Investor"},{"label":"Value","value":"$125,000"},{"label":"Effective","value":"2022-11-03"}],"fact_type":"material_agreement"},{"claim_id":"f3faef616ceabd6c2173a937049fd18c29d12d1b","claim":"Propanc Biopharma, Inc. entered into Equity Line Agreement with an institutional investor (the “Investor”) valued at $5,000,000 (effective 2022-11-03).","evidence_excerpt":"entered into a stock purchase agreement (the “Equity Line Agreement”) with an institutional investor (the “Investor”) providing for an equity financing facility, pursuant to which Company has the option to request that the Investor commit to purchase up to $5,000,000 of the Company’s shares","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1517681/000149315223017322/0001493152-23-017322-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"an institutional investor (the “Investor”)"},{"label":"Value","value":"$5,000,000"},{"label":"Effective","value":"2022-11-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}