---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-004028"
form_type: "8-K/A"
ticker: "AIFC"
cik: "0000862861"
company_name: "AI Financial Corp"
filed_at: "2024-02-09T23:59:59+00:00"
generated_at: "2026-06-06T05:05:07.498161+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# JanOne corrects conversion price to $0.61 on amended notes and new $300k notes

## Summary
- Fourth Amendment to ICG secured revolving line adds convertibility at $0.61/share, extends maturity to Aug 2028.
- First Amendment to Live Ventures promissory note also sets conversion price at $0.61/share.
- New promissory notes of $300k each with ICG and Live Ventures, 10% interest, convertible after 6 months at $0.61.
- Prior 8-K filed Feb 8 reported $0.58 conversion price; this 8-K/A corrects to $0.61.
- $100k principal plus interest on each new note due March 7, 2024; balance due Dec 31, 2024.

## SEC filing metadata
- accession: 0001628280-24-004028
- form_type: 8-K/A
- ticker: AIFC
- cik: 0000862861
- company_name: AI Financial Corp
- filed_at: 2024-02-09T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862861/000162828024004028/0001628280-24-004028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862861/000162828024004028/jan-20240208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-004028
- JSON: https://secwatch.observer/filing/0001628280-24-004028.json
- Plain text: https://secwatch.observer/filing/0001628280-24-004028.txt

## Key facts
- Material Agreements
  AI Financial Corp entered into Promissory Note with Live Ventures Incorporated valued at $300,000 (effective 2024-02-07).
  - Action: entry
  - 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/862861/000162828024004028/0001628280-24-004028-index.htm
- Material Agreements
  AI Financial Corp amended First Amendment to Promissory Note with Live Ventures Incorporated (effective 2024-02-07).
  - Action: amendment
  - 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/862861/000162828024004028/0001628280-24-004028-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
  - 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/862861/000162828024004028/0001628280-24-004028-index.htm
- 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/862861/000162828024004028/0001628280-24-004028-index.htm

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