{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-008684","form_type":"8-K","ticker":"NCPL","cik":"0001414767","company_name":"Netcapital Inc.","filed_at":"2025-05-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:48.218834+00:00","generated_at":"2026-05-22T16:57:00.339214+00:00","sec_items":["2.06"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Netcapital records $17.9M total impairment on multiple equity investments","bullets":["Impairments on 11 investments include StockText, CupCrew, CountSharp, HeadFarm, RealWorld, AceHedge, Dark, Fantize, Caesar Media, ChipBrain, Deuce Drone.","Largest single impairment: ChipBrain LLC $3.37M due to AI replication of software; Deuce Drone $2.35M (inactive); Caesar Media $2.0M (failure to file).","Most impairments attributed to key personnel resignations after adverse regulatory changes; companies returning investor funds.","Company does not expect to recover any value from these investments.","Additional impairments may be recorded for other investment securities under evaluation."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-008684","json":"https://secwatch.observer/filing/0001641172-25-008684.json","markdown":"https://secwatch.observer/filing/0001641172-25-008684.md","text":"https://secwatch.observer/filing/0001641172-25-008684.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1414767/000164117225008684/0001641172-25-008684-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1414767/000164117225008684/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-22T16:57:00.339214+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"}