secwatch.observer — SEC 8-K summary
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Issuer:     USBC, Inc. (USBC)
CIK:        0001074828
Form:       8-K
Filed at:   2025-06-04T23:59:59+00:00
Accession:  0001654954-25-006583
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 5.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1074828/000165495425006583/0001654954-25-006583-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1074828/000165495425006583/knwn_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-006583

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