secwatch.observer — SEC 8-K summary
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Issuer:     AI Financial Corp (AIFC)
CIK:        0000862861
Form:       8-K/A
Filed at:   2024-02-09T23:59:59+00:00
Accession:  0001628280-24-004028
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862861/000162828024004028/0001628280-24-004028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862861/000162828024004028/jan-20240208.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-004028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer