WYTEC INTERNATIONAL INC (WYTC): debt financing — Wytec amends $625K note to allow up to 7 six-month extensions; extends warrants

WYTEC INTERNATIONAL INC

Amendment to $625K unsecured promissory note (Feb 2020) increases maximum six-month maturity extensions from 5 to 7, avoiding default.
Expiration of 85,784 common stock purchase warrants to director Christopher Stuart extended to Dec 31, 2024.
Expiration of 71,233 warrants to affiliate Eagle Rock Investments similarly extended to Dec 31, 2024.
Amended and restated warrant to operations director Erica Perez (25,000 shares, $5.00 strike) corrects expiration to Oct 11, 2026.

item 1.01 item 2.03 item 3.03 item 5.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.85

WYTEC INTERNATIONAL INC amended loan of $625,000 with unknown at unknown maturing amended to allow seven additional six-month extension periods.

Instrument: loan
Principal: $625,000
Maturity: amended to allow seven additional six-month extension periods
Event: amendment

Exact text from the filing

Wytec International, Inc., a Nevada corporation (“Wytec”), amended (the “Amendment”) that certain unsecured promissory in the original principal amount of $625,000, dated February 25, 2020, as amended on August 13, 2022 (the “Note”) in order to allow Wytec to extend the maturity date of the Note by seven (7) additional six month periods instead of five (5) additional six month periods.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WYTEC INTERNATIONAL INC amended Note valued at $625,000 (effective 2024-02-05).

Action: amendment
Agreement: notes offering
Value: $625,000
Effective: 2024-02-05

Exact text from the filing

On or about February 5, 2024, Wytec International, Inc., a Nevada corporation ("Wytec"), amended (the "Amendment") that certain unsecured promissory in the original principal amount of $625,000, dated February 25, 2020, as amended on August 13, 2022 (the "Note")

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Source: SEC EDGAR

accession 0001683168-24-000677

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