secwatch.observer — SEC 8-K summary
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Issuer:     Collective Audience, Inc. (—)
CIK:        0001854583
Form:       8-K
Filed at:   2025-03-28T23:59:59+00:00
Accession:  0001683168-25-001986
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 1.01, 3.02, 5.01, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Collective Audience loses control to Abri after debt-for-equity conversions, Abri now owns 92.38% of common stock
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- Abri converted $648k debt into 102M shares on Feb 11, gaining 83.85% control; further conversions raised stake to 92.38%.
- Additional exchanges: $1M debt for 39.35M common shares; $2.63M debt for 21,033 Series A Preferred; CEO Bordes exchanged $300k for 7,978 Series A Preferred.
- Series A Preferred created with 18% cumulative dividends, 10 votes/share, 10x liquidation preference, and veto over major corporate actions.
- Abri now owns 92.38% of common stock; company must seek Abri consent for borrowing over $50k, mergers, stock issuance, and more.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854583/000168316825001986/0001683168-25-001986-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854583/000168316825001986/collective_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-25-001986

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