secwatch.observer — SEC 8-K summary
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Issuer:     Edgemode, Inc. (EDGM)
CIK:        0001652958
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001683168-23-002754
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edgemode issues $117,502 in convertible promissory notes with 10% interest and steep discount conversion
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- Sold $60,000 unsecured note on Apr 25 and $57,502 convertible note on Apr 26, both with 10% interest.
- Notes mature May 25 and May 26, 2023; if unpaid, convertible at lower of $0.20 or 50% of 5-day VWAP (floor $0.01).
- Company reserved 11,750,200 common shares for full conversion of both notes.
- Proceeds to be used for repurchase of Series B preferred stock and general working capital.
- Notes include 'most favored nation' clause allowing investors to claim future better terms.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1652958/000168316823002754/0001683168-23-002754-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1652958/000168316823002754/edgemode_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-002754

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