secwatch.observer — SEC 8-K summary
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Issuer:     WASTE ENERGY CORP. (WAST)
CIK:        0001515139
Form:       8-K
Filed at:   2023-06-23T23:59:59+00:00
Accession:  0001493152-23-022238
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MetaWorks signs asset purchase agreement to acquire UtopiaVR metaverse platform
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- Acquires UtopiaVR.com platform, Web3 business metaverse tech, domain portfolio, and patent-pending haptics IP.
- Consideration: 7 million shares of common stock plus $700k and $154,250 convertible promissory notes (total $854,250).
- Notes mature in 1 year ($700k) and Dec 15, 2023 ($154k), convertible at $0.10/share after 6 months.
- Securities issued are unregistered; no public offering. Apex VR Holdings is arm's length to MetaWorks.
- Acquisition is expected to expand MetaWorks' Web3 platform offerings and licensing opportunities.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1515139/000149315223022238/0001493152-23-022238-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1515139/000149315223022238/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-022238

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer