secwatch.observer — SEC 8-K summary
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Issuer:     KUSTOM ENTERTAINMENT, INC. (KUST)
CIK:        0001342958
Form:       8-K
Filed at:   2024-09-27T23:59:59+00:00
Accession:  0001493152-24-038531
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Digital Ally increases secured note to $2M, extends maturity to Nov 2024 or merger close
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- Amended note principal raised from $1.425M to up to $2M; interest at 1.58% per month.
- Maturity earlier of Nov 1, 2024 or Kustom Entertainment merger with Clover Leaf.
- Existing defaults acknowledged; borrower owes $1,204,319.47 as of effective date.
- Repayment: 50% of ticket revenue on first 9,000 tickets, then 10% until paid.
- Extended $100k payment from Sep 26 to Oct 10, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224038531/0001493152-24-038531-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1342958/000149315224038531/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-038531

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