Recent 8-K filings for NASC
Highest-materiality recent filing
Can B Corp receives notice of UCC asset sale; Arena Entities declare default on $3.84M notes
- Arena Entities intend to auction all or substantially all assets on Dec 28, 2023 under UCC Article 9.
- Defaults include failure to deliver account control agreements, servicing agreement, missing payments, unauthorized use of receivables.
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Can B Corp. ceases hemp operations; issues ~4.8M shares, incurs lease costs up to $132K
Equipment auction on March 14, 2024 raised ~$300k, applied to Arena Special Opportunities convertible notes.
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Can B Corp. dismisses BF Borgers as auditor after SEC ban (May 3 order)
Effective May 6, 2024, Can B Corp. dismissed BF Borgers CPA PC as independent registered public accounting firm.
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Can B Corp. completes $75K convertible note sale to ClearThink at 33% discount
Sold $75,000 promissory note for $50,000 purchase price, a 33.33% original issue discount.
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Can B Corp. sells hemp division assets for ~$300k; shifts focus to cannabis patents
Hemp division assets sold via UCC Article 9 auction on March 14, 2024.
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Nascent Pharma, 67% owned by Can B, acquired US patents 9,730,911 and 10,555,928 covering liquid cannabis formulations including beverages, tinctures, vape pens, and capsules.
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Court denies Can B Corp. motion to halt Arena's asset sale; auction postponed to March 14
Supreme Court, County of New York denied company's motion for TRO and preliminary injunction to stop Arena's Article 9 sale.
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Filed action Dec 20, 2023 to permanently enjoin Arena's UCC Article 9 sale of substantially all assets.
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Can B Corp. sues to block Arena's UCC Article 9 sale of substantially all assets; auction postponed
Filed action in NY Supreme Court on Dec 20, 2023 to enjoin Arena's proposed sale of substantially all assets, citing commercial unreasonableness and invalid security interests.
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Can B Corp receives notice of UCC asset sale; Arena Entities declare default on $3.84M notes
Arena Entities intend to auction all or substantially all assets on Dec 28, 2023 under UCC Article 9.
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Can B Corp. issues $156,250 promissory note with 20% OID to Walleye Opportunities Fund
Can B Corp. sold a $156,250 promissory note to Walleye Opportunities Fund for $125,000, a 20% original issue discount.
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Can B Corp. moves Pure Health Products ops to Colorado, expects ~$500K annual savings
Relocation of manufacturing, processing, packaging and shipping to Fort Morgan, CO facilities.
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Can B Corp. issues $1.82M OID note, grant warrants; forbearance on $3.88M past-due notes
Note principal $1,823,529 sold at $1,550,000 (15% OID); nine monthly installments of $232,500 starting April 27, 2023.
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Can B Corp obtains $56,250 net from $62,500 convertible note financing
Note principal $62,500 with 10% original issue discount; net proceeds $56,250.
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Can B Corp. issues $150K convertible note with warrants; extends Arena notes with $300K payment
Issued $150K principal note (12% interest, convertible at $4.00) and warrants for 23,437 shares at $6.40, net proceeds $135K after 10% OID.
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Can B Corp. raises $540k via convertible notes and warrants to Mast Hill and Blue Lake
Mast Hill note: $350k principal, 10% OID (net $315k), convertible at $4/share, 12% interest.
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Can B Corp signs deal to develop up to 100 CBD Lounges at ~$4M each
Agreement with American Development Partners to develop up to 100 CBD Lounges; first 50 committed, option for 50 more.
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TWS assets acquired for $5.3M: $1.25M promissory note (6%, 12-month, $100k/mo) and $4.07M in CANB stock at $0.62/share.
Materiality & sentiment trend
Max materiality 0.90 · Median 0.62 · Most common event other_material