secwatch.observer — SEC 8-K summary
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Issuer:     AI Financial Corp (AIFC)
CIK:        0000862861
Form:       8-K
Filed at:   2024-02-08T23:59:59+00:00
Accession:  0001628280-24-003865
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

JanOne amends two notes to add convertibility at $0.58, issues two $300K convertible notes
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- 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%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/0001628280-24-003865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862861/000162828024003865/jan-20240208.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-003865

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