secwatch.observer — SEC 8-K summary
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Issuer:     Vicapsys Life Sciences, Inc. (VICP)
CIK:        0001468639
Form:       8-K
Filed at:   2023-06-30T23:59:59+00:00
Accession:  0001493152-23-023183
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vicapsys Life Sciences issues $330K note to AJB Capital, 10% interest, 8% OID, due Dec 2023
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- Principal $330,000, purchase price $303,600 (8% OID), 10% annual interest, maturity December 27, 2023.
- Issued 328,571 unregistered commitment fee shares to AJB Capital as part of the agreement.
- Default triggers 150% acceleration, 18% interest, and conversion at average of 3 lowest VWAP prices.
- Proceeds from the note will be used for general working capital purposes.
- Note is convertible into common stock upon an event of default at a formula-based conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1468639/000149315223023183/0001493152-23-023183-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1468639/000149315223023183/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-023183

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