secwatch.observer — SEC 8-K summary
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Issuer:     Cardiff Lexington Corp (CDIX)
CIK:        0000811222
Form:       8-K
Filed at:   2024-06-11T23:59:59+00:00
Accession:  0001683168-24-004119
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cardiff Lexington settles prior convertible notes; issues $535K settlement note tied to offering
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- Settlement with GHS Investments terminates 2019-2020 Transaction Agreements including convertible preferred stock and notes.
- New Fixed Amount Settlement Promissory Note for $535,000 issued; zero interest, unsecured, prepayable without penalty.
- Payments contingent on planned underwritten public offering: $250K+ if $5M-$6M raised; full repayment if $7M+ raised.
- If offering not completed by Aug 15, 2024, $25,000 monthly payments begin; note matures in 2 years.
- Mutual release of claims between Cardiff and GHS; note becomes immediately due if unpaid after 2 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811222/000168316824004119/0001683168-24-004119-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811222/000168316824004119/cardiff_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-004119

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