secwatch.observer — SEC 8-K summary
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Issuer:     GBT Technologies Inc. (GTCH)
CIK:        0001471781
Form:       8-K
Filed at:   2022-09-14T23:59:59+00:00
Accession:  0001731122-22-001572
Event type: debt
Sentiment:  negative
Materiality: 0.50
Item codes: 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

GBT Technologies enters into $116,200 promissory note with 1800 Diagonal Lending at 12% interest
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- Net proceeds of $103,750 after $12,450 original issue discount; total payback $130,144.
- Note bears 12% annual interest plus one-time 12% interest charge; ten monthly payments of $13,014.40.
- Conversion only upon default at 75% of lowest trading price with 10-day lookback.
- Issued to accredited investor under Section 4(a)(2); proceeds for general working capital.
- Maturity September 9, 2023; note is unsecured and non-convertible except in default.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1471781/000173112222001572/0001731122-22-001572-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1471781/000173112222001572/e4057_8k.htm
  HTML page:      https://secwatch.observer/filing/0001731122-22-001572

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