secwatch.observer — SEC 8-K summary
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Issuer:     INTRUSION INC (INTZ)
CIK:        0000736012
Form:       8-K
Filed at:   2023-01-17T23:59:59+00:00
Accession:  0001683168-23-000198
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Intrusion defers Streeterville note redemptions through March 31, adds 3.75% fee to balances
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- Amendment with Streeterville Capital defers all redemptions on two promissory notes from Jan 11 to March 31, 2023.
- Standstill fee of 3.75% of outstanding balance added to each note on Jan 11, increasing total debt.
- Outstanding balances after fee: Note #1 $4,302,732.47; Note #2 $5,760,583.58 (combined ~$10.06M).
- Standstill terminates early upon event of default under Notes or borrower breach of agreement.
- Notes originally issued March and June 2022 for $5.35M each, used for working capital.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/736012/000168316823000198/0001683168-23-000198-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/736012/000168316823000198/intrusion_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-000198

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