{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-26-021727","form_type":"8-K","ticker":"RIME","cik":"0000923601","company_name":"Algorhythm Holdings, Inc.","filed_at":"2026-05-07T23:59:59+00:00","discovered_at":"2026-05-14T18:02:33.941231+00:00","generated_at":"2026-05-14T22:24:21.764943+00:00","sec_items":["2.04"],"event_type":"debt","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Algorhythm Holdings defaults on $1.5M note payment; interest rate rises from 6% to 8%","bullets":["Failed to make $1.5M initial payment due May 2, 2026 on a $1.75M promissory note to SemiCab Inc.","Default triggered; interest rate on the overdue amount increased from 6% to 8% per annum.","Seller may declare all outstanding amounts immediately due and payable upon written notice.","As of May 7, 2026, SemiCab has not exercised any remedies under the note."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-26-021727","json":"https://secwatch.observer/filing/0001493152-26-021727.json","markdown":"https://secwatch.observer/filing/0001493152-26-021727.md","text":"https://secwatch.observer/filing/0001493152-26-021727.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/0001493152-26-021727-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-14T22:24:21.764943+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":"244dfb33d262fc9c6de63b7f72a29c918fca7b86","claim":"Algorhythm Holdings, Inc. reported a default on loan of $1,750,000 with SemiCab Inc. at six percent per annum maturing May 2, 2026.","evidence_excerpt":"Obligation or an Obligation under an Off-Balance Sheet Arrangement. On May 2, 2025, Algorhythm Holdings, Inc. (the “Company”) issued a promissory note in the principal amount of $1,750,000 (the “Promissory Note”) to SemiCab Inc., a Delaware corporation (the “Seller”), pursuant to an equity purchase agreement (the “Equity Purchase Agreement”) among the Company and","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/0001493152-26-021727-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$1,750,000"},{"label":"Counterparty","value":"SemiCab Inc."},{"label":"Rate","value":"six percent per annum"},{"label":"Maturity","value":"May 2, 2026"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}