secwatch.observer — SEC 8-K summary
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Issuer:     WASTE ENERGY CORP. (WAST)
CIK:        0001515139
Form:       8-K
Filed at:   2023-07-06T23:59:59+00:00
Accession:  0001493152-23-023511
Event type: m_and_a
Sentiment:  positive
Materiality: 0.55
Item codes: 2.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MetaWorks acquires UtopiaVR assets for shares and $854K in convertible notes
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- Acquired UtopiaVR.com platform, ChatGPT AI avatar tech, and patent-pending metaverse haptics IP.
- Consideration: 7,000,000 shares of common stock plus $700,000 and $154,250 convertible promissory notes.
- Convertible notes mature July 5, 2024, convertible at $0.10/share after a 6-month lock-up.
- Securities issued in unregistered offshore transaction relying on Regulation S and Section 4(a)(2).
- Acquisition strengthens MetaWorks' Web3/metaverse position; no revenue or earnings details disclosed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1515139/000149315223023511/0001493152-23-023511-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1515139/000149315223023511/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-023511

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