secwatch.observer — SEC 8-K summary
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Issuer:     Global Interactive Technologies, Inc. (GITS)
CIK:        0001911545
Form:       8-K
Filed at:   2026-04-28T23:59:59+00:00
Accession:  0001493152-26-019254
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GITS issues $550K convertible note to FirstFire; 9% interest, 15% conversion discount
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- Net proceeds $506,000 after $44,000 OID; note matures in 12 months.
- Upon default, conversion price set at 85% of 15-day VWAP (15% discount).
- Default penalty increases principal by 25% plus $5,000/month.
- Buyer received piggyback registration rights; note unregistered under Section 4(a)(2)/Reg D.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1911545/000149315226019254/0001493152-26-019254-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1911545/000149315226019254/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-019254

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