secwatch.observer — SEC 8-K summary
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Issuer:     WYTEC INTERNATIONAL INC (WYTC)
CIK:        0001560143
Form:       8-K
Filed at:   2026-03-09T23:59:59+00:00
Accession:  0001683168-26-001619
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wytec issues $71.3K convertible promissory note with aggressive default conversion terms
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- Sold $71,300 note (incl. $9,300 OID) to 1800 Diagonal Lending for net proceeds of $62,000.
- Note bears 12% one-time interest ($8,556), matures Dec 30, 2026, with scheduled payments.
- On default, principal + interest increase 150% and accrue at 22%; lender may convert at 65% of lowest 10-day trading price.
- Proceeds used for general working capital; $7,000 buyer expenses reimbursed.
- Note has cap on conversion preventing ownership over 4.99% of outstanding shares.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560143/000168316826001619/0001683168-26-001619-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560143/000168316826001619/wytec_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-26-001619

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