{"filing":{"accession_number":"0001493152-26-025663","cik":"0001898604","ticker":"VSTD","company_name":"Vestand Inc.","form":"8-K","filing_date":"2026-05-28","report_date":null,"primary_document":"form8-k.htm","primary_document_url":"https://www.sec.gov/Archives/edgar/data/1898604/000149315226025663/form8-k.htm"},"events":[{"id":8543,"run_id":7500,"accession_number":"0001493152-26-025663","anchor_item_number":null,"event_type":"covenant_breach","event_domain":"financial","is_material":true,"confidence":0.45,"summary":"The filing discloses entry into a $200,000 loan agreement with a 16% interest rate, 6-month maturity (due September 16, 2026), and collateral consisting of 100% equity in a subsidiary. While Item 1.01 describes this as a \"Material Definitive Agreement,\" the high interest rate, short repayment window, and pledge of subsidiary equity suggest financial stress. However, the filing does not explicitly disclose a covenant breach or default event—it merely describes the loan terms and Event of Default provisions. The classification is uncertain because this could alternatively be classified as \"other_material\" (a material financing arrangement) or potentially \"dilutive_issuance\" if equity is involved, but the core disclosure centers on a direct financial obligation with concerning terms.","company_name":"Vestand Inc.","ticker":"VSTD","filing_date":"2026-05-28","form":"8-K","submitted_at":null,"items":null}],"classifications":[{"id":2463,"accession_number":"0001493152-26-025663","item_number":null,"item_title":null,"event_type":"covenant_breach","event_domain":"financial","is_material":true,"confidence":0.45,"reasoning":"The filing discloses entry into a $200,000 loan agreement with a 16% interest rate, 6-month maturity (due September 16, 2026), and collateral consisting of 100% equity in a subsidiary. While Item 1.01 describes this as a \"Material Definitive Agreement,\" the high interest rate, short repayment window, and pledge of subsidiary equity suggest financial stress. However, the filing does not explicitly disclose a covenant breach or default event—it merely describes the loan terms and Event of Default provisions. The classification is uncertain because this could alternatively be classified as \"other_material\" (a material financing arrangement) or potentially \"dilutive_issuance\" if equity is involved, but the core disclosure centers on a direct financial obligation with concerning terms.","classifier_version":"claude-haiku-4-5-20251001+prompt-9e0ffca5","taxonomy_version":"v1","classified_at":"2026-05-29T02:47:16.722591+00:00","company_name":"Vestand Inc.","ticker":"VSTD","filing_date":"2026-05-28"}]}