secwatch.observer — SEC 8-K summary
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Issuer:     Transglobal Management Group, Inc. (TMGI)
CIK:        0001434601
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0001712543-22-000106
Event type: debt
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marquie Group issues $38,880 convertible note at 12% with warrant for 776M shares
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- Issued convertible promissory note with face amount $38,880 to Quick Capital, LLC for net proceeds of $32,500 after legal fees.
- Note bears 12% interest, matures in 12 months, convertible at lower of $0.00005 or 50% of lowest trading price over prior 10 days.
- Also issued warrant to purchase 776,000,000 shares of common stock as additional consideration.
- Company has 16.19B shares outstanding; note and warrant could cause significant dilution.
- Transaction exempt from registration under Section 4(a)(2) and Rule 506(b); noteholder is accredited investor.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1434601/000171254322000106/0001712543-22-000106-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1434601/000171254322000106/f8k_tmgi07272022.htm
  HTML page:      https://secwatch.observer/filing/0001712543-22-000106

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