{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-020970","form_type":"8-K","ticker":"NBND","cik":"0001725911","company_name":"NetBrands Corp.","filed_at":"2023-06-12T23:59:59+00:00","discovered_at":"2026-05-14T18:03:40.258179+00:00","generated_at":"2026-06-14T03:01:28.159889+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"NetBrands issues $117K promissory note to 1800 Diagonal with 13% OID and conversion discount","bullets":["Net proceeds of $100,000 after $12,570 original issue discount and $4,750 legal fees; total payback $132,571.","Note matures April 15, 2024; nine monthly payments of $14,730.11 beginning July 15, 2023; 13% one-time interest.","Default triggers 22% interest rate or acceleration at 150% of outstanding; conversion at 75% of lowest 10-day trading price.","Conversion limited to 4.99% beneficial ownership; company must reserve 4x shares issuable upon full conversion.","Proceeds used for working capital and general corporate purposes; note is unsecured."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-020970","json":"https://secwatch.observer/filing/0001493152-23-020970.json","markdown":"https://secwatch.observer/filing/0001493152-23-020970.md","text":"https://secwatch.observer/filing/0001493152-23-020970.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1725911/000149315223020970/0001493152-23-020970-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1725911/000149315223020970/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T03:01:28.159889+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":"10c758cf28a24e4d3d1e116536eb4d1157d78a56","claim":"NetBrands Corp. incurred loan of $117,320 with 1800 Diagonal Lending LLC at 13% maturing April 15, 2024.","evidence_excerpt":"On June 6, 2023, NetBrands Corp., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “Purchase Agreement”) with 1800 Diagonal Lending LLC, a Virginia limited liability company (“1800 Diagonal”), pursuant to which the Company issued to 1800 Diagonal an unsecured promissory note in the principal amount of $117,320 (the “Note”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1725911/000149315223020970/0001493152-23-020970-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$117,320"},{"label":"Counterparty","value":"1800 Diagonal Lending LLC"},{"label":"Rate","value":"13%"},{"label":"Maturity","value":"April 15, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"0787603344359a7cc57e027b1d24024717d7ea93","claim":"NetBrands Corp. entered into Purchase Agreement with 1800 Diagonal Lending LLC valued at $117,320 (effective 2023-06-06).","evidence_excerpt":"On June 6, 2023, NetBrands Corp., a Delaware corporation (the “Company”), entered into a securities purchase agreement (the “Purchase Agreement”) with 1800 Diagonal Lending LLC, a Virginia limited liability company (“1800 Diagonal”), pursuant to which the Company issued to 1800 Diagonal an unsecured promissory note in the principal amount of $117,320 (the “Note”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1725911/000149315223020970/0001493152-23-020970-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"1800 Diagonal Lending LLC"},{"label":"Value","value":"$117,320"},{"label":"Effective","value":"2023-06-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}