Electromedical Technologies Files 8-K

TL;DR

Electromedical Technologies filed a routine 8-K with financial updates.

AI Summary

Electromedical Technologies, Inc. filed an 8-K on April 2, 2024, reporting an event on March 26, 2024. The filing primarily concerns financial statements and exhibits, indicating a routine update rather than a significant operational change.

Why It Matters

This filing serves as a standard disclosure for Electromedical Technologies, Inc., providing updates on financial statements and exhibits to the SEC.

Risk Assessment

Risk Level: low — The filing appears to be a standard procedural update with no immediate indication of significant financial distress or positive development.

Key Players & Entities

• Electromedical Technologies, Inc. (company) — Registrant
• March 26, 2024 (date) — Earliest event reported
• April 2, 2024 (date) — Filing date
• 16561 N. 92nd Street , Ste. 101 Scottsdale , AZ 85260 (address) — Principal Executive Offices

FAQ

Filing Documents

• tm2410575d1_8k.htm (8-K) — 25KB
• tm2410575d1_ex20-1.htm (EX-20.1) — 67KB
• 0001104659-24-042335.txt ( ) — 278KB
• elcq-20240326.xsd (EX-101.SCH) — 3KB
• elcq-20240326_lab.xml (EX-101.LAB) — 33KB
• elcq-20240326_pre.xml (EX-101.PRE) — 22KB
• tm2410575d1_8k_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. Effective March 25, 2024, the Company entered into a mutual settlement and release agreement with Mast Hill Fund, LP, concerning three security purchase agreements and associated warrant agreements dated October 13, 2021, February 11, 2022, and September 15, 2022. The mutual settlement and release agreement resolved respective defaults or cross defaults of the respective notes, the default amounts under the notes, including the payment of principal, accrued interest, default interest, and legal fees. The terms of the mutual settlement and release agreement included (i) cancellation of all outstanding warrants issued pursuant to the respective security purchase agreements and (ii) a waiver of the interest and default interest due under the respective security purchase agreements until a new and mutually agreed to maturity date of September 25, 2025. The parties agreed that interest shall accrue on the 12% per annum on the balance. The mutual settlement and release agreement also provided for repayment terms, including the Company's agreement to pay Mast Hill Fund, LP a 15% portion of money raised by the Company while the respective notes are outstanding and an agreement to pay Mast Hill Fund, LP a portion of its proceeds from sales equal to a pro-rata portion of proceeds from the Company's current and future sales on its products. This 8-K filing contains a summary description of certain terms of the settlement and mutual release agreement entered into by the "Company" and Mast Hill Fund, LP. This summary is provided for informational purposes only and does not purport to be complete. The summary is qualified in its entirety by reference to the complete agreement, a copy of which is attached hereto as an exhibit. Section 9 – Financial Statement and Exhibits

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits Exhibit No. Document Location 20.1 Mutual Settlement and Release Agreement Filed Herewith

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. Dated April 2, 2024 ELECTROMEDICAL TECHNOLOGIES, INC. By: /s/ Matthew Wolfson Matthew Wolfson Chief Executive Officer (Principal Executive Officer)

View Full Filing

View this 8-K filing on SEC EDGAR