---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-23-004988"
form_type: "8-K"
ticker: null
cik: "0001849294"
company_name: "Fortune Rise Acquisition Corp"
filed_at: "2023-07-19T23:59:59+00:00"
generated_at: "2026-06-13T06:32:09.393119+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Fortune Rise SPAC extends deadline to Aug 5 with $100k trust deposit; appoints new CFO

## Summary
- $100k deposited ($0.027/share) into trust for one-month extension to Aug 5, 2023; third of six allowed.
- Unsecured non-interest promissory note issued to Water On Demand (sponsor affiliate), convertible at $10/sh.
- J. Richard Iler resigned all positions effective July 14, 2023; no disagreement cited.
- Richard Brand appointed CFO and PEO effective July 14; consulting agreement at $10k/month for six months.

## SEC filing metadata
- accession: 0001683168-23-004988
- form_type: 8-K
- cik: 0001849294
- company_name: Fortune Rise Acquisition Corp
- filed_at: 2023-07-19T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 2.03, 3.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1849294/000168316823004988/0001683168-23-004988-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1849294/000168316823004988/fortune_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-004988
- JSON: https://secwatch.observer/filing/0001683168-23-004988.json
- Plain text: https://secwatch.observer/filing/0001683168-23-004988.txt

## Key facts
- Debt Financings
  Fortune Rise Acquisition Corp incurred loan of $100,000 with Water On Demand, Inc. at non-interest bearing maturing earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.
  - Instrument: loan
  - Principal: $100,000
  - Counterparty: Water On Demand, Inc.
  - Rate: non-interest bearing
  - Maturity: earlier of (i) consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company
  - Event: incurrence
  source text: xtension Payment, the Company issued an unsecured promissory note (the “ Note ”) to Water On Demand, Inc., a Nevada corporation and the entity which controls the Company’s sponsor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1849294/000168316823004988/0001683168-23-004988-index.htm
- Executive change
  J. Richard Iler resigned as other at Fortune Rise Acquisition Corp.
  - Action: resigned
  source text: Effective July 14, 2023, J. Richard Iler resigned from all positions with the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1849294/000168316823004988/0001683168-23-004988-index.htm
- Executive change
  Richard A. Brand was appointed as Chief Financial Officer and Principal Executive Officer at Fortune Rise Acquisition Corp.
  - Action: appointed
  - Role: Chief Financial Officer and Principal Executive Officer
  source text: Effective July 14, 2023, the board of directors of the Company unanimously appointed Richard A. Brand to serve as the Company’s Chief Financial Officer and Principal Executive Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1849294/000168316823004988/0001683168-23-004988-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.