secwatch.observer — SEC 8-K summary
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Issuer:     KUSTOM ENTERTAINMENT, INC. (KUST)
CIK:        0001342958
Form:       8-K
Filed at:   2024-08-23T23:59:59+00:00
Accession:  0001493152-24-033717
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Ally subsidiary defers $2.7M note repayment to 2025
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- TicketSmarter amends $2.7M related-party note; weekly $54K payments now start Jan 2, 2025, not Jan 2024.
- Interest remains at 13.25% per annum; full principal and accrued interest due by Dec 31, 2025.
- Lender is trust for benefit of TicketSmarter CEO and spouse; no events of default confirmed.
- Original $2.325M cash contribution in Sep 2023; amendment extends repayment timeline by one year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224033717/0001493152-24-033717-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224033717/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-033717

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