secwatch.observer — SEC 8-K summary
======================================

Issuer:     GIFTIFY, INC. (GIFT)
CIK:        0001760233
Form:       8-K
Filed at:   2025-02-21T23:59:59+00:00
Accession:  0001493152-25-007871
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Giftify enters $1M secured note with 11.5% interest, extending maturity to Dec 2025
--------------------------------------------------------------------------------

- Principal $1M, 11.5% annual interest, due Dec 31, 2025; replaces Sep 2024 note same amount.
- Secured by blanket lien on all assets, subordinated only to Pathward's ~$4M line.
- 36% default rate after 120 days; late fee 25% of unpaid amount.
- Origination fee $5,000 paid to lender Real World Digital Assets LLC.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1760233/000149315225007871/0001493152-25-007871-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1760233/000149315225007871/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-007871

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