Target Group Inc. Reports New Financial Obligation
Ticker: CBDY · Form: 8-K · Filed: Aug 26, 2024 · CIK: 1586554
| Field | Detail |
|---|---|
| Company | Target Group Inc. (CBDY) |
| Form Type | 8-K |
| Filed Date | Aug 26, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financial-obligation
TL;DR
Target Group Inc. just took on a new debt. Keep an eye on their financials.
AI Summary
On August 16, 2024, Target Group Inc. reported the creation of a direct financial obligation. The company, formerly known as Chess Supersite Corp and River Run Acquisition Corp, is incorporated in Delaware and operates in the medicinal chemicals & botanical products sector.
Why It Matters
This filing indicates Target Group Inc. has entered into a new financial commitment, which could impact its financial health and future investment strategies.
Risk Assessment
Risk Level: medium — The creation of a new financial obligation introduces potential leverage and repayment risks for the company.
Key Players & Entities
- Target Group Inc. (company) — Registrant
- Chess Supersite Corp (company) — Former company name
- River Run Acquisition Corp (company) — Former company name
- August 16, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the direct financial obligation reported by Target Group Inc.?
The filing states the creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, but does not specify the exact nature or amount of the obligation.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on August 16, 2024.
What were the former names of Target Group Inc.?
Target Group Inc. was formerly known as Chess Supersite Corp and River Run Acquisition Corp.
In which state is Target Group Inc. incorporated?
Target Group Inc. is incorporated in Delaware.
What is the primary business sector for Target Group Inc. according to the filing?
Target Group Inc. is listed under the Standard Industrial Classification for MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833].
Filing Stats: 515 words · 2 min read · ~2 pages · Grade level 15.8 · Accepted 2024-08-26 14:39:25
Filing Documents
- tm2422196d1_8k.htm (8-K) — 22KB
- 0001104659-24-092808.txt ( ) — 185KB
- cbdy-20240816.xsd (EX-101.SCH) — 3KB
- cbdy-20240816_lab.xml (EX-101.LAB) — 33KB
- cbdy-20240816_pre.xml (EX-101.PRE) — 22KB
- tm2422196d1_8k_htm.xml (XML) — 3KB
03 Creation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant On December 26, 2019, the Company filed a report on Form 8-K disclosing the entry into a financing agreement, dated December 20, 2019 ("Original Loan ") with a private individual ("Lender") who is the brother of the Company's Chief Executive Officer, Anthony Zarcone. The Original Loan was subsequently amended on nine (9) previous occasions as disclosed in reports filed on Form 8-K or 8-K/A on March 17, 2020, April 24, 2020, May 14, 2020, June 22, 2021, February 18, 2022, October 21, 2022, February 2, 2023, March 13, 2023, March 31, 2023, August 4, 2023, and November 13, 2023, respectively. Effective August 16, 2024, the Company and Lender entered into a Tenth Amending Agreement extending the maturity date of the Original Loan to May 31, 2025, or such earlier date as demanded by Lender. The remaining terms and conditions of the Original Loan, as amended, remain in full force and effect.
Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TARGET GROUP INC. Dated: August 26, 2024 By: /s/ Anthony Zarcone Chief Executive Officer