secwatch.observer — SEC 8-K summary
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Issuer:     WYTEC INTERNATIONAL INC (WYTC)
CIK:        0001560143
Form:       8-K
Filed at:   2025-10-09T23:59:59+00:00
Accession:  0001683168-25-007472
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wytec raises $157K via convertible note with Labrys Fund; maturity Oct 2026
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- Issued $180,550 promissory note to Labrys Fund II for net proceeds of $157,000 after $23,550 original issue discount.
- Note carries 12% one-time interest ($21,666) and matures Oct 3, 2026 with amortization payments of $28,888 from Apr to Oct 2026.
- Upon default or missed payment, Labrys can convert outstanding at 65% of lowest 20-day VWAP, subject to 4.99% ownership cap.
- If Wytec receives cash proceeds exceeding $500k, Labrys may require up to 25% of excess to repay the note.
- As of Oct 3, 2025, Wytec had 16,903,492 common shares outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560143/000168316825007472/0001683168-25-007472-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560143/000168316825007472/wytec_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-25-007472

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