{"schema_version":"secwatch.filing_event.v1","accession":"0001868419-26-000041","form_type":"8-K","ticker":"CYCU","cik":"0001868419","company_name":"Cycurion, Inc.","filed_at":"2026-06-04T21:26:58+00:00","discovered_at":"2026-06-04T21:28:00.263853+00:00","generated_at":"2026-06-04T21:28:35.521173+00:00","sec_items":["1.01","3.02","5.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Cycurion restructures ~$4.8M in debt, issues convertible notes and Series H preferred","bullets":["Restructured ~$2.9M in principal/interest with new convertible notes due March 2027, conversion price $1.05 per share.","Issued 1,899.95 shares of Series H Convertible Preferred (stated value $1,000 each) to settle ~$1.9M in default interest/penalties.","Series H Preferred carries 12% annual dividend payable quarterly in common stock, liquidation preference, and voting on as-converted basis.","New notes and preferred stock are senior secured; leak-out restricts resale to 5% of average daily trading volume.","Securities issued in unregistered transactions exempt under Section 4(a)(2), Regulation D, and Section 3(a)(9) for exchanges."],"urls":{"canonical":"https://secwatch.observer/filing/0001868419-26-000041","json":"https://secwatch.observer/filing/0001868419-26-000041.json","markdown":"https://secwatch.observer/filing/0001868419-26-000041.md","text":"https://secwatch.observer/filing/0001868419-26-000041.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/cycu-20260529.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-04T21:28:35.521173+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1f6eed0963049669dab6fda1bf1a44ed3e56455c","claim":"Cycurion, Inc. issued convertible note to IQ Financial, Inc. for $517,604.40 of outstanding obligations.","evidence_excerpt":"approximately $517,604.40 of outstanding obligations, consisting of principal and accrued interest, was exchanged for a new convertible promissory note","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"convertible note"},{"label":"Purchaser","value":"IQ Financial, Inc."},{"label":"Consideration","value":"$517,604.40 of outstanding obligations"}],"fact_type":"equity_issuance"},{"claim_id":"36ad460bba6ccdd896c68e182ef3c47f0edd21b7","claim":"Cycurion, Inc. issued 952.7 shares of preferred stock to M2B Funding Corp. for stated value of approximately $952,695.73.","evidence_excerpt":"issued 952.7 shares of Series H Convertible Preferred Stock with an aggregate stated value of approximately $952,695.73","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"preferred stock"},{"label":"Shares","value":"952.7 shares"},{"label":"Purchaser","value":"M2B Funding Corp."},{"label":"Consideration","value":"stated value of approximately $952,695.73"}],"fact_type":"equity_issuance"},{"claim_id":"d823e987602a0f21fe14c199ca926f2528505da1","claim":"Cycurion, Inc. issued 947.25 shares of preferred stock to Obsidian Associates, LLC for stated value of $1,000 per share.","evidence_excerpt":"947.25 shares of the Company’s Series H Convertible Preferred Stock, with each share having a stated value of $1,000","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"preferred stock"},{"label":"Shares","value":"947.25 shares"},{"label":"Purchaser","value":"Obsidian Associates, LLC"},{"label":"Consideration","value":"stated value of $1,000 per share"}],"fact_type":"equity_issuance"},{"claim_id":"d897dbddc97407963ff021b80bdafcd9ac380000","claim":"Cycurion, Inc. issued convertible note to M2B Funding Corp. for principal amount of $1,326,748.31.","evidence_excerpt":"exchanged outstanding promissory notes for a new convertible promissory note, attached as Exhibit 10.4, in the principal amount of $1,326,748.31","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"convertible note"},{"label":"Purchaser","value":"M2B Funding Corp."},{"label":"Consideration","value":"principal amount of $1,326,748.31"}],"fact_type":"equity_issuance"},{"claim_id":"e69f630e673d2a2082c30e886fea5102008dd92f","claim":"Cycurion, Inc. issued convertible note to Obsidian Associates, LLC for $1,083,003.41 of principal and accrued non-default interest.","evidence_excerpt":"approximately $1,083,003.41 of principal and accrued non-default interest owed under certain existing notes was exchanged for a new convertible promissory note","evidence_source":"SEC 8-K Item 3.02/3.03","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.9,"family_label":"Equity Issuances","details":[{"label":"Security","value":"convertible note"},{"label":"Purchaser","value":"Obsidian Associates, LLC"},{"label":"Consideration","value":"$1,083,003.41 of principal and accrued non-default interest"}],"fact_type":"equity_issuance"},{"claim_id":"55068e2dcce952e007eef6a20c05971ef04931fd","claim":"Cycurion, Inc.: Authorized Series H Convertible Preferred Stock and filed Certificate of Designation with the State of Delaware on May 29, 2026 (effective 2026-05-29).","evidence_excerpt":"The foregoing summary of the terms, rights and preferences of the Series I Convertible Preferred Stock, filed with the State of Delaware on May 29, 2026, is qualified in its entirety by reference to the text of the Series H Convertible Preferred Stock Certificate of Designation, which is filed hereto as Exhibit 3.1 and is incorporated herein by reference.","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2026-05-29"}],"fact_type":"governance_change"},{"claim_id":"1cdd47f5dd38d06a5ab3dd293b7a8e7e60aaca2c","claim":"Cycurion, Inc. entered into Exchange Agreement with M2B Funding Corp. valued at $1,326,748.31 principal note plus 952.7 shares Series H Preferred Stock ($952,695.73) (effective 2026-06-01).","evidence_excerpt":"On June 1, 2026, the Company entered into an Exchange Agreement with M2B, attached as Exhibit 10.3. Pursuant to this agreement, the Company exchanged outstanding promissory notes for a new convertible promissory note, attached as Exhibit 10.4, in the principal amount of $1,326,748.31 and issued 952.7 shares of Series H Convertible Preferred Stock with an aggregate stated value of approximately $952,695.73 in satisfaction of default-related amounts.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"M2B Funding Corp."},{"label":"Value","value":"$1,326,748.31 principal note plus 952.7 shares Series H Preferred Stock ($952,695.73)"},{"label":"Effective","value":"2026-06-01"}],"fact_type":"material_agreement"},{"claim_id":"dcdda925023b96f3b1976b3fa7348241cf46235e","claim":"Cycurion, Inc. entered into Exchange and Restructuring Agreement with IQ Financial, Inc. valued at $517,604.40 exchanged for new convertible promissory note (effective 2026-06-01).","evidence_excerpt":"On June 1, 2026, the Company entered into an Exchange and Restructuring Agreement with IQ Financial, attached as Exhibit 10.1. Under this agreement, approximately $517,604.40 of outstanding obligations, consisting of principal and accrued interest, was exchanged for a new convertible promissory note, attached as Exhibit 10.2.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"IQ Financial, Inc."},{"label":"Value","value":"$517,604.40 exchanged for new convertible promissory note"},{"label":"Effective","value":"2026-06-01"}],"fact_type":"material_agreement"},{"claim_id":"debccd41c3d2b54e5bfa3b43ea08107174069143","claim":"Cycurion, Inc. entered into Exchange and Restructuring Agreement with Obsidian Associates, LLC valued at $1,083,003.41 principal exchanged for new note plus 947.25 shares Series H Preferred Stock ($947,250 (effective 2026-06-01).","evidence_excerpt":"On June 1, 2026, the Company entered into an Exchange and Restructuring Agreement with Obsidian, attached as Exhibit 10.5. Pursuant to that agreement, approximately $1,083,003.41 of principal and accrued non-default interest owed under certain existing notes was exchanged for a new convertible promissory note issued by the Company, attached as Exhibit 10.6.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1868419/000186841926000041/0001868419-26-000041-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Obsidian Associates, LLC"},{"label":"Value","value":"$1,083,003.41 principal exchanged for new note plus 947.25 shares Series H Preferred Stock ($947,250"},{"label":"Effective","value":"2026-06-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}