secwatch.observer — SEC 8-K summary
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Issuer:     WYTEC INTERNATIONAL INC (WYTC)
CIK:        0001560143
Form:       8-K
Filed at:   2022-10-13T23:59:59+00:00
Accession:  0001683168-22-006865
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02
LLM model:  deepseek-v4-flash:cloud@v2

CEO Gray exchanges 1,000 Series C preferred for 3M shares; Stuart and affiliate convert notes into convertible debt
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- CEO William Gray exchanges all 1,000 Series C Preferred shares for 3,000,000 common shares (3:1 ratio).
- Director Christopher Stuart exchanges $385,658.67 in notes for a 9.5% convertible note due Dec 31, 2023.
- Eagle Rock Investments (Stuart affiliate) exchanges $320,242.46 in notes for a 9.5% convertible note due Dec 31, 2023.
- Convertible notes may auto-convert if Wytec lists on Nasdaq Capital Markets; otherwise convertible at $5/share with warrants.
- Shares and notes issued in unregistered transactions exempt under Section 4(a)(2) and Regulation D.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560143/000168316822006865/0001683168-22-006865-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560143/000168316822006865/wytec_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-006865

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