secwatch.observer — SEC 8-K summary
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Issuer:     WYTEC INTERNATIONAL INC (WYTC)
CIK:        0001560143
Form:       8-K
Filed at:   2023-12-06T23:59:59+00:00
Accession:  0001683168-23-008657
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Wytec amends two director-held notes to add equity conversion at $5/share and warrant sweetener
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- Amended $50,000 (Nov 2022) and $100,000 (Dec 2022) notes, both at 7% interest, issued to director Christopher Stuart.
- Maturity can now be extended by up to three six-month periods (previously two) at borrower's option.
- Lender may convert principal and interest to common stock at $5.00 per share at any time before maturity.
- Conversion before Dec 31, 2023 also entitles lender to warrants exercisable at the greater of $5.00 or 85% of 10-day VWAP.
- Warrants expire Dec 31, 2023 and can be exercised on a cash or cashless basis.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560143/000168316823008657/0001683168-23-008657-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560143/000168316823008657/wytec_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-23-008657

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