secwatch.observer — SEC 8-K summary
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Issuer:     Resonate Blends, Inc. (KOAN)
CIK:        0000897078
Form:       8-K
Filed at:   2023-08-23T23:59:59+00:00
Accession:  0001493152-23-029881
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Resonate Blends issues $320k in convertible promissory notes to accredited investors
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- Two promissory notes: $265k (Aug 1) and $55k (Aug 9); net proceeds $300k after $20k OID.
- Three-month maturity; default interest at 18% per annum; no prepayment penalty.
- Notes convertible into common stock in next funding round at ~$0.08/share with 4% preferred and warrants.
- Issued 762,500 commitment shares as additional consideration; securities unregistered under Rule 506.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/897078/000149315223029881/0001493152-23-029881-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/897078/000149315223029881/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-029881

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