secwatch.observer — SEC 8-K summary
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Issuer:     KonaTel, Inc. (KTEL)
CIK:        0000845819
Form:       8-K
Filed at:   2023-12-22T23:59:59+00:00
Accession:  0001515971-23-000170
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KonaTel enters $1.365M installment sale agreement with ACP Finance for device purchases
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- Initial credit of $1,365,000 under 24-month Installment Sale Agreement with ACP Financing VII LLC.
- Credit capacity may increase up to $5,000,000; 3% origination cost paid over 12 months.
- Agreement supports purchase of 4G+ devices for ACP/Lifeline distribution; $2,000/month admin fee.
- Facility subordinate to existing CCUR loan; early termination penalty 2% in year one, 1% in year two.
- If Tempo Telecom divestiture not completed by July 14, 2024, company may prepay without penalty.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000170/0001515971-23-000170-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845819/000151597123000170/ktel8k122223.htm
  HTML page:      https://secwatch.observer/filing/0001515971-23-000170

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