secwatch.observer — SEC 8-K summary
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Issuer:     iQSTEL Inc (IQST)
CIK:        0001527702
Form:       8-K
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001663577-24-000044
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iQSTEL issues option to ADI Funding for up to 10M shares at discount to VWAP
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- Issued Common Stock Purchase Option to ADI Funding LLC for $100,000; expires Dec 31, 2024.
- Option covers up to 10,000,000 shares; exercise price is 70% or 75% of 10-day VWAP based on price.
- ADI must exercise at least 2M shares by later of March 31, 2024 or effective resale registration.
- Additional mandatory exercises of 1M shares every 30 days on cash basis, subject to $0.11 floor.
- Beneficial ownership limit 4.99% (may increase to 9.99%); anti-dilution rights included.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1527702/000166357724000044/0001663577-24-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1527702/000166357724000044/iqst8k021224.htm
  HTML page:      https://secwatch.observer/filing/0001663577-24-000044

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