secwatch.observer — SEC 8-K summary
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Issuer:     Edgemode, Inc. (EDGM)
CIK:        0001652958
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001683168-23-005367
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Edgemode raises $60K net via $71,450 convertible note at 13%, discount conversion after default
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- Issued $71,450 principal convertible note to 1800 Diagonal Lending LLC for net proceeds of $60,000.
- Note bears 13% interest, matures May 15, 2024; nine monthly payments of $8,971.
- Conversion at 71% of lowest trading price in prior 20 days, only after an event of default.
- Events of default include failure to maintain OTC Markets listing or comply with 1934 Act reporting.
- Proceeds for working capital; 4.99% beneficial ownership limitation on conversion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1652958/000168316823005367/0001683168-23-005367-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1652958/000168316823005367/edgemode_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-005367

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