Showing material events only. Routine administrative filings — bylaw amendments, technical fund updates, procedural FD disclosures — are filtered out so the front page stays signal-dense.
8-K
Covenant Breach
confidence 95%
filed 2026-05-21
Item 2.04
The filing discloses a "Notice of Default" from principal Noteholders (Shalcor Management, Inc. and Lightbank II, L.P.) with respect to the Company's 2024 Secured Term Notes and 2024 Secured Convertible Notes, triggering an event of default that permits acceleration of repayment, foreclosure on assets, and suspension of the Company's voting rights in its operating subsidiary. The Lead Noteholders have exercised rights over pledged securities, resulting in removal of the CEO and appointment of interim management. The Company explicitly states it "has limited access to financial resources necessary to continue operations," indicating severe financial stress and a direct triggering event that accelerates financial obligations under Item 2.04.
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8-K
Covenant Breach
confidence 85%
filed 2026-05-21
Item 1.01
The Twelfth Amendment to the credit facility waives noncompliance with minimum unrestricted cash, minimum consolidated EBITDA, and minimum sell-side revenue financial covenants for Q1 2026, as well as nonpayment of interest for April 2026. The amendment tightens the EBITDA covenant to $200,000 minimum for Q2 2026, signaling lender concern about the borrower's ability to maintain compliance.
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8-K
Covenant Breach
confidence 65%
filed 2026-05-19
Item 2.03
The Company created a direct financial obligation of $2.5M under the ACM Letter Agreement and Confession of Judgment, signaling an accelerated or triggered obligation that reflects material financial distress.
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8-K
Covenant Breach
confidence 65%
filed 2026-05-19
The filing discloses Amendment #2 to a Promissory Note with Streeterville Capital, LLC, extending the maturity date from June 30, 2026 to June 30, 2027 and adding a $10,000 extension fee. While the amendment itself is a negotiated modification rather than a breach, the need for a second extension of a debt obligation within approximately 16 months signals financial stress and inability to repay on the original schedule. The outstanding balance of $1,682,676.16 and repeated extensions suggest the company is managing liquidity constraints, which is material to investors assessing solvency risk.
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