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

Issuer:     Algorhythm Holdings, Inc. (RIME)
CIK:        0000923601
Form:       8-K
Filed at:   2026-05-07T23:59:59+00:00
Accession:  0001493152-26-021727
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 2.04
LLM model:  deepseek-v4-flash:cloud@v2

Algorhythm Holdings defaults on $1.5M note payment; interest rate rises from 6% to 8%
--------------------------------------------------------------------------------

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/0001493152-26-021727-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/923601/000149315226021727/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-021727

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