Know Labs issues 16,916 Series H preferred shares to CEO affiliate in $1.18M debt conversion

USBC, Inc.

Converted $1,184,066 in insider debt into 16,916 shares of Series H Convertible Preferred Stock.
Series H has $70 stated value, 8% cumulative dividend; convertible into common at $0.335/share, subject to 19.99% ownership cap.
Conversion allowed after Sept 30, 2025; shares rank senior to common and junior to Series C and D preferred.
Issued unregistered under Section 4(a)(2) to an accredited investor (J3E2A2Z LP, affiliated with CEO Ronald Erickson).

item 1.01 item 5.03 item 3.02 item 3.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

USBC, Inc.: Certificate of Designation for Series H Convertible Preferred Stock filed and effective (effective 2025-06-02).

Change: charter amendment
Effective: 2025-06-02

Exact text from the filing

On May 30, 2025, in connection with the Conversion Agreement, the Company’s Board of Directors approved the adoption and filing of a Certificate of Designation for 30,000 shares of Series H Convertible Preferred Stock (“Series H Certificate of Designation”), a newly created classes of preferred stock. The Series H Certificate of Designation were filed and became effective with the Secretary of State of Nevada on June 2, 2025.

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USBC, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-25-006583

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