---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017903"
form_type: "8-K"
ticker: "WBSR"
cik: "0001645155"
company_name: "Webstar Technology Group Inc."
filed_at: "2023-05-17T23:59:59+00:00"
generated_at: "2026-06-14T22:26:08.462200+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Webstar Technology Group issues 18.4M shares upon partial conversion of convertible note

## Summary
- Frank T Perone Trust converted $101,000 principal and $82,710 interest into 18,371,000 common shares at $0.01 per share.
- Total consideration of $183,710 exchanged; note principal reduced to $1,000,000 and accrued interest to $0.
- Shares issued as restricted under Rule 144 exemption; no registration statement filed.
- Conversion represents significant dilution for existing shareholders.

## SEC filing metadata
- accession: 0001493152-23-017903
- form_type: 8-K
- ticker: WBSR
- cik: 0001645155
- company_name: Webstar Technology Group Inc.
- filed_at: 2023-05-17T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1645155/000149315223017903/0001493152-23-017903-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1645155/000149315223017903/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017903
- JSON: https://secwatch.observer/filing/0001493152-23-017903.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017903.txt

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