{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-001772","form_type":"8-K","ticker":"NCPL","cik":"0001414767","company_name":"Netcapital Inc.","filed_at":"2025-03-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.571416+00:00","generated_at":"2026-05-24T01:39:31.848634+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Netcapital enters $181,540 promissory note with conversion rights; net proceeds $150k","bullets":["Note principal $181,540 with 12% one-time interest; total repayment $203,324 over 5 months starting Sep 30, 2025.","Net proceeds $150,000 after $25,040 OID and due diligence fees; funds for general working capital.","Upon default, note converts to common stock at 75% of market price after 180 days; initial conversion price $1.00.","Default triggers 150% penalty (200% for certain defaults) and 22% default interest; includes standard default events.","Note matures Jan 30, 2026; prepayment discounts range 96%-98% of outstanding depending on timing."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-001772","json":"https://secwatch.observer/filing/0001641172-25-001772.json","markdown":"https://secwatch.observer/filing/0001641172-25-001772.md","text":"https://secwatch.observer/filing/0001641172-25-001772.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1414767/000164117225001772/0001641172-25-001772-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1414767/000164117225001772/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T01:39:31.848634+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}