secwatch.observer — SEC 8-K summary
======================================

Issuer:     GBT Technologies Inc. (GTCH)
CIK:        0001471781
Form:       8-K
Filed at:   2021-11-10T23:59:59+00:00
Accession:  0001731122-21-001841
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GBT Technologies issues $124,200 convertible note to Sixth Street; pays off $106,200 Redstart note
--------------------------------------------------------------------------------

- Sixth Street note: $124,200 principal for $103,500 purchase price (16.7% OID), 6% interest, matures Feb 8, 2023.
- Conversion at 85% of lowest trading price with 20-day lookback; 4.99% ownership cap applies.
- Company paid off Redstart note in full for $141,781.95 on Nov 8, 2021.
- Proceeds from Sixth Street note used for general working capital; note issued under Section 4(a)(2) exemption.
- Company grants Sixth Street right of first refusal for future offerings under $150,000 for 9 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1471781/000173112221001841/0001731122-21-001841-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1471781/000173112221001841/e3261_8k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-21-001841

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