8-K
filed February 29, 2024, 6:59 PM ET
ticker CRCW
CIK 0001688126
debt
confidence high
sentiment negative
materiality 0.60
Crypto Co (CRCW): debt financing — Crypto Co enters secured note for $53K; licenses AllFi brand to AllFi Holdings
Crypto Co
- Issued $53,000 promissory note to AJB Capital Investments for net proceeds of $40,050, maturing Aug 20, 2024, no interest except default up to 18%.
- Note secured by substantially all assets; convertible at discount to market price upon default.
- Subsidiary AllFi Technologies granted AllFi Holdings exclusive license to AllFi brand in exchange for royalties.
- Terminated prior Code Licensing Agreement with TelBill dated August 29, 2023.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Crypto Co incurred loan of $53,000 with AJB Capital Investments, LLC at no interest on the principal except for default interest maturing August 20, 2024.
- Instrument
- loan
- Principal
- $53,000
- Counterparty
- AJB Capital Investments, LLC
- Rate
- no interest on the principal except for default interest
- Maturity
- August 20, 2024
- Event
- incurrence
Exact text from the filing
The Crypto Company (the “Company”) borrowed funds pursuant to the terms of a Securities Purchase Agreement (the “AJB SPA”) entered into with AJB Capital Investments, LLC (“AJB”), and issued a Promissory Note in the principal amount of $53,000 (the “AJB Note”) to AJB
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Crypto Co terminated Voluntary Mutual Termination and Release Agreement with TelBill, LLC valued at Termination of Code Licensing Commercial Agreement dated August 29, 2023 (effective 2024-02-23).
- Action
- termination
- Agreement
- lease
- Counterparty
- TelBill, LLC
- Value
- Termination of Code Licensing Commercial Agreement dated August 29, 2023
- Effective
- 2024-02-23
Exact text from the filing
In conjunction with the License Agreement, on February 23, 2024, the Company entered into a Voluntary Mutual Termination and Release Agreement (“Termination Agreement”) with TelBill, LLC, a Texas limited liability company (“TelBill”), pursuant to which the Company and TelBill agreed to terminate that certain Code Licensing Commercial Agreement dated August 29, 2023 (the “Code Licensing Agreement”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Crypto Co entered into Security Agreement with AJB Capital Investments, LLC valued at Security interest in substantially all of the Company's assets (effective 2024-02-23).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- AJB Capital Investments, LLC
- Value
- Security interest in substantially all of the Company's assets
- Effective
- 2024-02-23
Exact text from the filing
The Company also entered into a Security Agreement with AJB pursuant to which the Company granted to AJB a security interest in substantially all of the Company’s assets to secure the Company’ obligations under the AJB SPA and AJB Note.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Crypto Co entered into License Agreement with AllFi Holdings LLC valued at Exclusive license to utilize Assigned IP associated with AllFi Brand; royalty payments (effective 2024-02-23).
- Action
- entry
- Agreement
- license
- Counterparty
- AllFi Holdings LLC
- Value
- Exclusive license to utilize Assigned IP associated with AllFi Brand; royalty payments
- Effective
- 2024-02-23
Exact text from the filing
On February 23, 2024, the Company entered into a License Agreement (“License Agreement”) with AllFi Holdings LLC, a Wyoming limited liability company (“AllFi Holdings”), pursuant to which the Company grants to AllFi Holdings an exclusive license to utilize the Assigned IP (as defined in the License Agreement) associated with the utilization of the AllFi Brand.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
Crypto Co entered into Securities Purchase Agreement with AJB Capital Investments, LLC valued at $53,000 principal amount; purchase price $45,050 (effective 2024-02-23).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- AJB Capital Investments, LLC
- Value
- $53,000 principal amount; purchase price $45,050
- Effective
- 2024-02-23
Exact text from the filing
The Crypto Company (the “Company”) borrowed funds pursuant to the terms of a Securities Purchase Agreement (the “AJB SPA”) entered into with AJB Capital Investments, LLC (“AJB”), and issued a Promissory Note in the principal amount of $53,000 (the “AJB Note”) to AJB in a private transaction for a purchase price of $45,050, each entered into on February 23, 2024.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.