secwatch.observer — SEC 8-K summary
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Issuer:     Propanc Biopharma, Inc. (PPCB)
CIK:        0001517681
Form:       8-K
Filed at:   2024-08-15T23:59:59+00:00
Accession:  0001493152-24-032469
Event type: debt
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Propanc Biopharma issues $33K convertible promissory note to GS Capital at 8% interest
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- Company entered securities purchase agreement with GS Capital Partners on Aug 9, 2024 for $33,000 principal note at $30,000 purchase price.
- Note matures Feb 2, 2025, bears 8% interest, convertible at $0.0017/share initially, adjustable to $0.001 if stock trades below $0.0014 for 5 days.
- Company can prepay at 110% within 60 days, escalating to 125% after 120 days; no prepayment after 180 days.
- Proceeds used for working capital; note issued under Section 4(a)(2) and Rule 506 of Regulation D.
- Default events include failure to maintain OTC Markets listing, breach of covenants; interest rises to 24% on default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1517681/000149315224032469/0001493152-24-032469-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1517681/000149315224032469/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-032469

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