secwatch.observer — SEC 8-K summary
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Issuer:     FRANKLIN WIRELESS CORP (FKWL)
CIK:        0000722572
Form:       8-K
Filed at:   2022-03-22T23:59:59+00:00
Accession:  0001683168-22-001832
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Franklin Wireless loans $10M to majority-owned subsidiary at 2% interest for facility purchase
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- Loan of $10M to majority-owned FTI to purchase South Korea facility and provide working capital.
- Five-year term, annual interest-only payments at 2%, default rate 7%.
- FTI required to grant mortgage on purchased facility to secure the Note.
- Company owns majority of FTI; FTI provides design/development services for wireless products.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/722572/000168316822001832/0001683168-22-001832-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/722572/000168316822001832/franklin_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-001832

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