---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-000626"
form_type: "8-K"
ticker: "HIRU"
cik: "0000925779"
company_name: "HIRU Corp"
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T10:27:28.815756+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# HIRU Corp. defaults on $1.4M loan to Bayern Industries; new management takes over, restructuring agreed

## Summary
- Default on $1.4M loan from Bayern Industries (May 2022) occurred July 2023; UCC filing Jan 24, 2024 lists water equipment collateral.
- New management gained control on or about Oct 16, 2023; filed board notes with OTC Markets on Nov 10 and Nov 13, 2023.
- Company reached agreement in principle with Bayern to restructure the loan and resume water packing operations; definitive deal to follow.
- Principal executive offices moved to West Palm Beach, FL (500 S Australian Ave Suite 600) from Glendale, AZ.

## SEC filing metadata
- accession: 0001683168-24-000626
- form_type: 8-K
- ticker: HIRU
- cik: 0000925779
- company_name: HIRU Corp
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.03, 5.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/925779/000168316824000626/0001683168-24-000626-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/925779/000168316824000626/hiru_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-000626
- JSON: https://secwatch.observer/filing/0001683168-24-000626.json
- Plain text: https://secwatch.observer/filing/0001683168-24-000626.txt

## Key facts
- Debt Financings
  HIRU Corp incurred loan of $1.4 Millions with Bayern Industries.
  - Instrument: loan
  - Principal: $1.4 Millions
  - Counterparty: Bayern Industries
  - Event: incurrence
  source text: On or about May 22, 2022, the issuer HIRU entered into a certain loan agreement of $1.4 Millions with Bayern Industries (the "creditor").
  evidence_url: https://www.sec.gov/Archives/edgar/data/925779/000168316824000626/0001683168-24-000626-index.htm

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