secwatch.observer — SEC 8-K summary
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Issuer:     KonaTel, Inc. (KTEL)
CIK:        0000845819
Form:       8-K/A
Filed at:   2025-09-30T23:59:59+00:00
Accession:  0001515971-25-000085
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KonaTel amends IM Telecom sale; to receive $700K holdback, drops pursuit of final closing
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- Parties executed First Omnibus Amendment on Sept 19, 2025; no longer pursuing FCC change of control for Final Closing.
- KonaTel to receive $700K of $1M holdback upon filing with FCC to reactivate APIs; remaining $150K paid later.
- Management Agreement terminated; IM Telecom to hire new CEO and operate under Annual Plan effective immediately.
- Excess Telecom granted first-priority security interest over all IM Telecom assets to secure recoupment of over $100M capex.
- KonaTel will continue to receive Distribution Agreement payments from IM Telecom vertical sales channels, including healthcare.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/845819/000151597125000085/0001515971-25-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/845819/000151597125000085/ktel8ka092625.htm
  HTML page:      https://secwatch.observer/filing/0001515971-25-000085

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