8-K
filed May 9, 2024, 7:59 PM ET
ticker HLLK
CIK 0001331421
debt
confidence high
sentiment negative
materiality 0.60
HALLMARK VENTURE GROUP, INC. (HLLK): debt financing — Hallmark Venture issues $100K 8% convertible note with 75% discount conversion and $100K on-demand note
HALLMARK VENTURE GROUP, INC.
- Issued $100,000 8% Convertible Promissory Note to Nicosel, LLC, maturing April 30, 2025.
- Conversion price is 25% of average closing price over 10 days (75% discount), adjustable for DTC chill or default.
- Also issued 100,000 warrants exercisable within one year to the same investor.
- Separate $100,000 8% On Demand Promissory Note with unaffiliated third party, 180-day term.
- Proceeds from convertible note subject to use-of-proceeds schedule, funds for general corporate purposes.
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
HALLMARK VENTURE GROUP, INC. incurred convertible notes of $100,000 with Nicosel, LLC at 8% maturing April 30, 2025.
- Instrument
- convertible notes
- Principal
- $100,000
- Counterparty
- Nicosel, LLC
- Rate
- 8%
- Maturity
- April 30, 2025
- Event
- incurrence
Exact text from the filing
On May 1, 2024, Hallmark Venture Group, Inc (the "Company") issued a $100,000, 8% Convertible Promissory Note (the "Note") and entered into a Warrant Subscription Agreement with Nicosel, LLC
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
HALLMARK VENTURE GROUP, INC. incurred loan with an independent privately-held non-affiliated third party at 8% maturing 180 day.
- Instrument
- loan
- Counterparty
- an independent privately-held non-affiliated third party
- Rate
- 8%
- Maturity
- 180 day
- Event
- incurrence
Exact text from the filing
On May 2, 2024, the Company subsequently made a strategic loan with an independent privately-held non-affiliated third party by entering into a 180 day 8% On Demand Promissory Note Agreement
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
HALLMARK VENTURE GROUP, INC. entered into Warrant Subscription Agreement with Nicosel, LLC valued at 100,000 warrants (effective 2024-05-01).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Nicosel, LLC
- Value
- 100,000 warrants
- Effective
- 2024-05-01
Exact text from the filing
On May 1, 2024, Hallmark Venture Group, Inc (the “Company”) issued a $100,000, 8% Convertible Promissory Note (the “Note”) and entered into a Warrant Subscription Agreement with Nicosel, LLC , a non-affiliate of the Company.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
HALLMARK VENTURE GROUP, INC. entered into On Demand Promissory Note Agreement with independent privately-held non-affiliated third party valued at $100,000 (implied 8% interest) (effective 2024-05-02).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- independent privately-held non-affiliated third party
- Value
- $100,000 (implied 8% interest)
- Effective
- 2024-05-02
Exact text from the filing
On May 2, 2024, the Company subsequently made a strategic loan with an independent privately-held non-affiliated third party by entering into a 180 day 8% On Demand Promissory Note Agreement.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
HALLMARK VENTURE GROUP, INC. entered into Convertible Promissory Note with Nicosel, LLC valued at $100,000 (effective 2024-05-01).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Nicosel, LLC
- Value
- $100,000
- Effective
- 2024-05-01
Exact text from the filing
On May 1, 2024, Hallmark Venture Group, Inc (the “Company”) issued a $100,000, 8% Convertible Promissory Note (the “Note”) and entered into a Warrant Subscription Agreement with Nicosel, LLC , a non-affiliate of the Company.
View on SEC.gov
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