secwatch.observer — SEC 8-K summary
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Issuer:     Edgemode, Inc. (EDGM)
CIK:        0001652958
Form:       8-K
Filed at:   2022-09-28T23:59:59+00:00
Accession:  0001683168-22-006655
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edgemode issues $55k Series B Preferred with 35% conversion discount to 1800 Diagonal Lending
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- Issued 55,000 Series B Preferred shares at $1.00 each for total proceeds of $55,000 to 1800 Diagonal Lending LLC.
- Conversion price set at 65% of the lowest two trading prices over prior 20 trading days (35% discount).
- Company may redeem within 90 days at 120% premium, 91–180 days at 125%; mandatory redemption after 12 months or on default.
- Annual dividend 8% (22% on default), cumulative, payable only on redemption, liquidation, or conversion.
- Proceeds for working capital; company also paid $3,750 in legal and due diligence fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1652958/000168316822006655/0001683168-22-006655-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1652958/000168316822006655/edgemode_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-006655

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