HALLMARK VENTURE GROUP, INC. (HLLK): debt financing — Hallmark Venture Group issues $7,119 convertible note to director Paul Strickland

HALLMARK VENTURE GROUP, INC.

0% convertible exchange note of $7,119, matures December 11, 2024.
Conversion price set at 50% of average closing price over 25 prior trading days.
Note issued to Secretary/Director Paul Strickland in exchange for direct payment of company expenses.
Default triggers 125% mandatory default amount and additional interest at 12% per annum.
Company cannot enter other convertible debt for 20 trading days; piggyback registration rights granted.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

HALLMARK VENTURE GROUP, INC. incurred convertible notes of $7,119.00 with Paul Strickland at 0% maturing matures December 11, 2024.

Instrument: convertible notes
Principal: $7,119.00
Counterparty: Paul Strickland
Rate: 0%
Maturity: matures December 11, 2024
Event: incurrence

Exact text from the filing

On December 12, 2023, Hallmark Venture Group, Inc (the "Company") issued a $7,119.00, 0% convertible exchange note to Paul Strickland ("Holder"), Secretary and Director of the Company (the "Note").

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.4

HALLMARK VENTURE GROUP, INC. entered into Note with Paul Strickland valued at $7,119.00 (effective 2023-12-12).

Action: entry
Counterparty: Paul Strickland
Value: $7,119.00
Effective: 2023-12-12

Exact text from the filing

On December 12, 2023, Hallmark Venture Group, Inc (the “Company”) issued a $7,119.00, 0% convertible exchange note to Paul Strickland (“Holder”), Secretary and Director of the Company (the “Note”).

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Source: SEC EDGAR

accession 0001493152-23-044571

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