secwatch.observer — SEC 8-K summary
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Issuer:     KUSTOM ENTERTAINMENT, INC. (KUST)
CIK:        0001342958
Form:       8-K
Filed at:   2024-09-13T23:59:59+00:00
Accession:  0001493152-24-036219
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Ally gets $265K advance, extends repayment, pays $50K fee under note amendment
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- Additional $265,000 advance added to principal under March 1, 2024 note with Mosh Man, LLC.
- September 12, 2024 payment of $100,000 extended to September 26; all other payment terms unchanged.
- Borrowers to pay a $50,000 waiver/default/extension fee, also added to principal.
- A new UCC-1 filing by any other creditor after September 11 automatically constitutes a default.
- Funds are to be used for pre-approved obligations; Purchaser may pay obligations directly.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224036219/0001493152-24-036219-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224036219/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-036219

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