secwatch.observer — SEC 8-K summary
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Issuer:     TON Strategy Co (TONX)
CIK:        0001566610
Form:       8-K
Filed at:   2023-10-17T23:59:59+00:00
Accession:  0001493152-23-037520
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Verb Technology issues $1.005M promissory note to Streeterville Capital at 9% interest
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- Principal $1,005,000; interest 9% compounded daily; maturity 18 months from October 11, 2023.
- Subsidiary verbMarketplace, LLC guarantees the note; $5,000 of principal covers Investor's legal fees.
- Prepayment before maturity requires 110% of prepaid amount; no prepayment penalty on monthly redemptions.
- Investor may redeem up to $120,000 per month starting six months after issuance, with cash payment within 3 trading days.
- Company must use 20% of gross proceeds from future equity/debt financings or asset sales to prepay the note.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1566610/000149315223037520/0001493152-23-037520-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1566610/000149315223037520/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-037520

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