secwatch.observer — SEC 8-K summary
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Issuer:     Crypto Co (CRCW)
CIK:        0001688126
Form:       8-K
Filed at:   2024-09-04T23:59:59+00:00
Accession:  0001493152-24-034974
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

Crypto Company issues $120K promissory note to AJB Capital, net proceeds $98K
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- Borrowed $120,000 principal via 12% promissory note due Feb 28, 2025; net proceeds $98K after fees.
- Funds to be used for working capital, potential acquisitions, and general corporate purposes.
- Note secured by all company assets under a Security Agreement with restrictive covenants.
- Upon default, outstanding amount converts to common stock at a discount to market price; interest rises to 18%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1688126/000149315224034974/0001493152-24-034974-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1688126/000149315224034974/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-034974

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