secwatch.observer — SEC 8-K summary
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Issuer:     Webstar Technology Group Inc. (WBSR)
CIK:        0001645155
Form:       8-K
Filed at:   2023-05-17T23:59:59+00:00
Accession:  0001493152-23-017903
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1645155/000149315223017903/0001493152-23-017903-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1645155/000149315223017903/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-017903

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