secwatch.observer — SEC 8-K summary
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Issuer:     IIOT-OXYS, Inc. (ITOX)
CIK:        0001290658
Form:       8-K
Filed at:   2023-03-21T23:59:59+00:00
Accession:  0001683168-23-001647
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 2.04
LLM model:  deepseek-v4-flash:cloud@v2

IIOT-OXYS defaults on $550K convertible notes; obligations accelerated
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- Two senior secured convertible notes totaling $550K matured March 1, 2023; payment not made, default declared.
- Holders Sergey Gogin ($500K note) and YVSGRAMORAH LLC ($50K note) can demand immediate payment in cash.
- Default consequences: principal increased 20%, warrant shares exercisable increase from 50% to 100%, holder can appoint board member.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1290658/000168316823001647/0001683168-23-001647-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1290658/000168316823001647/iiot_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-001647

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