---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-003865"
form_type: "8-K"
ticker: "AIFC"
cik: "0000862861"
company_name: "AI Financial Corp"
filed_at: "2024-02-08T23:59:59+00:00"
generated_at: "2026-06-06T06:10:39.081513+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# JanOne amends two notes to add convertibility at $0.58, issues two $300K convertible notes

## Summary
- Amended notes with Isaac Capital Group and Live Ventures on Feb 7, 2024, adding conversion rights at $0.58/share.
- Two new $300K promissory notes at 10% interest: $100K due March 7, 2024, balance due Dec 31, 2024.
- New notes convertible at $0.58/share after six-month anniversary, subject to standard adjustments.
- Conversion price set via 5-day average closing price through Feb 6, 2024, complying with Nasdaq Rule 5635(d)(ii).
- Isaac Capital Group note's maturity extended to Aug 30, 2028; interest unchanged at 8.75%.

## SEC filing metadata
- accession: 0001628280-24-003865
- form_type: 8-K
- ticker: AIFC
- cik: 0000862861
- company_name: AI Financial Corp
- filed_at: 2024-02-08T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/0001628280-24-003865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/jan-20240208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-003865
- JSON: https://secwatch.observer/filing/0001628280-24-003865.json
- Plain text: https://secwatch.observer/filing/0001628280-24-003865.txt

## Key facts
- Material Agreements
  AI Financial Corp amended Fourth Amendment to Secured Revolving Line of Credit with Isaac Capital Group LLC (effective 2024-02-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Isaac Capital Group LLC
  - Effective: 2024-02-07
  source text: On February 7, 2024, JanOne Inc. (the “Company”) amended two of its outstanding promissory obligations to add convertibility provisions to each.
  evidence_url: https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/0001628280-24-003865-index.htm
- Material Agreements
  AI Financial Corp entered into Promissory Note with Live Ventures Incorporated valued at $300,000 (effective 2024-02-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Live Ventures Incorporated
  - Value: $300,000
  - Effective: 2024-02-07
  source text: On February 7, 2024, the Company entered into a promissory note with each of the holders of the amended promissory notes. The initial principal amount of each note is $300,000, with an interest rate of 10% per annum.
  evidence_url: https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/0001628280-24-003865-index.htm
- Material Agreements
  AI Financial Corp amended First Amendment to Promissory Note with Live Ventures Incorporated (effective 2024-02-07).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Live Ventures Incorporated
  - Effective: 2024-02-07
  source text: On February 7, 2024, JanOne Inc. (the “Company”) amended two of its outstanding promissory obligations to add convertibility provisions to each.
  evidence_url: https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/0001628280-24-003865-index.htm
- Material Agreements
  AI Financial Corp entered into Promissory Note with Isaac Capital Group LLC valued at $300,000 (effective 2024-02-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Isaac Capital Group LLC
  - Value: $300,000
  - Effective: 2024-02-07
  source text: On February 7, 2024, the Company entered into a promissory note with each of the holders of the amended promissory notes. The initial principal amount of each note is $300,000, with an interest rate of 10% per annum.
  evidence_url: https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/0001628280-24-003865-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.