secwatch.observer — SEC 8-K summary
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Issuer:     SUPA Consolidated Inc. (SFCX)
CIK:        0001624985
Form:       8-K
Filed at:   2021-11-19T23:59:59+00:00
Accession:  0001683168-21-005849
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tribal Rides issues $290K convertible note to AJB Capital with commitment shares and warrants
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- Principal $290,000, 10% annual interest (12% if extended, 20% on default); maturity May 10, 2021 with 6-month extension option.
- $29,000 original issue discount; note is convertible only upon Event of Default at 90% of lowest 20-day VWAP.
- Issued 1,320,000 commitment shares valued at $0.25 each ($330K) and warrants for 750,000 shares at $1.00, 3-year term.
- Company must maintain 5x the shares issuable upon conversion; failure increases principal by $5,000 per occurrence.
- Lender subject to 1-year leak-out restriction (max 20,000 shares or 20% of 5-day avg volume).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1624985/000168316821005849/0001683168-21-005849-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1624985/000168316821005849/tribal_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-21-005849

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