secwatch.observer — SEC 8-K summary
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Issuer:     HALLMARK VENTURE GROUP, INC. (HLLK)
CIK:        0001331421
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001493152-24-018292
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hallmark Venture issues $100K 8% convertible note with 75% discount conversion and $100K on-demand note
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1331421/000149315224018292/0001493152-24-018292-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1331421/000149315224018292/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-018292

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