secwatch.observer — SEC 8-K summary
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Issuer:     Kisses From Italy Inc. (KITL)
CIK:        0001608092
Form:       8-K
Filed at:   2022-05-17T23:59:59+00:00
Accession:  0001683168-22-003735
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kisses from Italy issues $150K convertible note to Fourth Man; receives $135K net
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- 12% annual interest, due in 12 months; default rate 16%.
- Convertible at fixed $0.025 per share; subject to anti-dilution adjustment.
- Issued 607,000 commitment shares and warrant for 1,500,000 shares at $0.10 exercise price.
- Registration rights agreement requires filing within 90 days; default if not effective in 180 days.
- Net proceeds of $135,000 after $15,000 original issue discount and $3,000 legal fee withholding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1608092/000168316822003735/0001683168-22-003735-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1608092/000168316822003735/kisses_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-003735

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