secwatch.observer — SEC 8-K summary
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Issuer:     Edgemode, Inc. (EDGM)
CIK:        0001652958
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001683168-23-002588
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edgemode issues $108.5K in combined promissory notes with deep-discount conversion terms
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- Sold $60,760 promissory note (13% interest, matures Mar 2024) and $56,962 convertible note (8% interest, matures Apr 2024) to 1800 Diagonal Lending; net proceeds $108,500.
- Promissory note converts upon default at 71% of lowest closing bid in prior 20 trading days; convertible note converts at 65% of avg of 3 lowest closing bids in 15 days after 180 days.
- Company reserved 18,002,962 shares for promissory note conversion and 16,877,629 shares for convertible note conversion, totaling ~34.9M shares (~9% of current 390,437,459 outstanding).
- Both notes contain events of default including failure to file SEC reports and maintain OTC listing; conversion limited to 4.99% beneficial ownership cap.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1652958/000168316823002588/0001683168-23-002588-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1652958/000168316823002588/edgemode_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-002588

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