{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-25-028162","form_type":"8-K","ticker":"VSTD","cik":"0001898604","company_name":"Vestand Inc.","filed_at":"2025-12-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:41.018492+00:00","generated_at":"2026-05-16T12:57:10.505659+00:00","sec_items":["1.01","1.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Vestand amends convertible note use of proceeds; remaining $1.5M funding terminated","bullets":["Amendment allows proceeds to be used for general operations, restructuring, growth investments, acquisitions, and internal controls.","Originally $4.4M convertible note from Open Innovation Fund was restricted to California real estate.","First tranche of $2.9M funded; investor and company mutually terminated commitment for unfunded $1.5M.","Partial Termination Confirmation executed Dec 12, 2025; all other terms for funded capital remain.","Filing was inadvertently late; filed Dec 17, 2025."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-25-028162","json":"https://secwatch.observer/filing/0001493152-25-028162.json","markdown":"https://secwatch.observer/filing/0001493152-25-028162.md","text":"https://secwatch.observer/filing/0001493152-25-028162.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1898604/000149315225028162/0001493152-25-028162-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1898604/000149315225028162/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T12:57:10.505659+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c5e36c72dbc304d35010e120a8b622751c1efa36","claim":"Vestand Inc. amended Change of Use Amendment with Open Innovation Fund (effective 2025-09-10).","evidence_excerpt":"On September 10, 2025, the Company and the Investor signed an amendment to the Agreement (the “Change of Use Amendment”) revising the use of proceeds and providing that proceeds may now be used for (i) general operating expenses, (ii) financial restructuring and risk management, (iii) selective growth investments, (iv) funds for acquisition of new businesses, and (v) internal control enforcement and system improvements.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1898604/000149315225028162/0001493152-25-028162-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Counterparty","value":"Open Innovation Fund"},{"label":"Effective","value":"2025-09-10"}],"fact_type":"material_agreement"},{"claim_id":"f99bc38c92c4c35f66148871087cca249f33eec7","claim":"Vestand Inc. terminated Confirmation with Open Innovation Fund valued at $1,500,000 (effective 2025-12-12).","evidence_excerpt":"and on December 12, 2025, the Investor and the Company executed a Partial Termination Confirmation (the “Confirmation”) regarding the remaining $1,500,000 under the Agreement (the “Unfunded Capital”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1898604/000149315225028162/0001493152-25-028162-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Counterparty","value":"Open Innovation Fund"},{"label":"Value","value":"$1,500,000"},{"label":"Effective","value":"2025-12-12"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}