secwatch.observer — SEC 8-K summary
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Issuer:     Propanc Biopharma, Inc. (PPCB)
CIK:        0001517681
Form:       8-K
Filed at:   2023-10-17T23:59:59+00:00
Accession:  0001493152-23-037423
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Propanc Biopharma issues $61K convertible note to GS Capital; conversion at $0.015, adjustable to $0.0075
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- Entered securities purchase agreement with GS Capital Partners, LLC for $61,000 principal convertible note at 8% interest.
- Note purchased at $57,500 ($3,500 OID); net proceeds for general working capital.
- Conversion price initially $0.015/share, reduced to $0.0075 if stock trades <$0.01 for 5+ consecutive trading days.
- Maturity April 12, 2024; prepayment options: 110% within 60 days, scaling to 125% by 180 days.
- Events of default include failure to timely issue conversion shares, loss of OTC listing, and non-compliance with SEC reporting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223037423/0001493152-23-037423-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517681/000149315223037423/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-037423

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