secwatch.observer — SEC 8-K summary
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Issuer:     Cannabis Bioscience International Holdings, Inc. (CBIH)
CIK:        0001411057
Form:       8-K
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0001683168-24-001817
Event type: debt
Sentiment:  neutral
Materiality: 0.35
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cannabis Bioscience International enters $66K convertible note with 1800 Diagonal Lending LLC
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- Principal $66,000; net proceeds $50,000 after OID ($11,000), interest charge ($8,580), and $5,000 fees.
- Repayment in 5 installments: $37,290 on Sep 15, 2024, then $9,322.50 monthly through Jan 15, 2025.
- Upon default, note convertible at 65% of lowest trading price over prior 10 trading days.
- Company must reserve 3x shares issuable upon conversion; initial reserve 435,164,835 shares.
- Breach of representations or covenants triggers event of default; 150% liquidated damages.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1411057/000168316824001817/0001683168-24-001817-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1411057/000168316824001817/cannabisbio_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-001817

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