Can B Corp. Enters Financial Obligation
Ticker: NASC · Form: 8-K · Filed: Mar 21, 2024 · CIK: 1509957
| Field | Detail |
|---|---|
| Company | Can B CORP (NASC) |
| Form Type | 8-K |
| Filed Date | Mar 21, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $75,000, $50,000, $0.0772, $200,000, $15,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt, financial-obligation
TL;DR
Can B Corp. just took on a new debt. Keep an eye on their financials.
AI Summary
On February 29, 2024, Can B Corp. entered into a direct financial obligation. The company, formerly known as Canbiola, Inc., is incorporated in Florida and its principal executive offices are located in Hicksville, NY.
Why It Matters
This filing indicates Can B Corp. has taken on a new financial commitment, which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Taking on new financial obligations can introduce financial risk if not managed effectively.
Key Players & Entities
- Can B Corp. (company) — Registrant
- February 29, 2024 (date) — Date of earliest event reported
- Canbiola, Inc. (company) — Former company name
- Florida (jurisdiction) — State of incorporation
- Hicksville, NY (location) — Principal executive offices
FAQ
What is the nature of the direct financial obligation Can B Corp. entered into?
The filing states that the registrant entered into a direct financial obligation, but the specific details of this obligation are not provided in the provided text.
When did Can B Corp. enter into this financial obligation?
The earliest event reported, which includes the creation of the direct financial obligation, occurred on February 29, 2024.
What was Can B Corp. previously known as?
Can B Corp. was formerly known as Canbiola, Inc.
In which state is Can B Corp. incorporated?
Can B Corp. is incorporated in Florida.
Where are Can B Corp.'s principal executive offices located?
Can B Corp.'s principal executive offices are located at 960 South Broadway, Suite 120, Hicksville, NY 11801.
Filing Stats: 502 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-03-21 11:38:24
Key Financial Figures
- $75,000 — missory note in the principal amount of $75,000 to ClearThink Capital Partners, LLC ("C
- $50,000 — k"). The purchase price of the note was $50,000, representing a 33.33% original issue d
- $0.0772 — ck at any time at a conversion price of $0.0772 per share. The proceeds of the loan wer
- $200,000 — rtible notes in the principal amount of $200,000 on August 7, 2023, $15,000 on September
- $15,000 — l amount of $200,000 on August 7, 2023, $15,000 on September 22, 2023 and $37,500 on De
- $37,500 — 2023, $15,000 on September 22, 2023 and $37,500 on December 20, 2023 in connection with
Filing Documents
- form8-k.htm (8-K) — 36KB
- 0001493152-24-010749.txt ( ) — 205KB
- canb-20240229.xsd (EX-101.SCH) — 3KB
- canb-20240229_lab.xml (EX-101.LAB) — 34KB
- canb-20240229_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
03
ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT. On February 29, 2024, Can B Corp. (the "Company") completed the sale of a promissory note in the principal amount of $75,000 to ClearThink Capital Partners, LLC ("ClearThink"). The purchase price of the note was $50,000, representing a 33.33% original issue discount. The note becomes due on November 29, 2024 and bears interest, payable upon maturity, at a rate of 12% per annum. ClearThink may convert the purchase price of the note and accrued and unpaid interest into shares of the Company's common stock at any time at a conversion price of $0.0772 per share. The proceeds of the loan were used for general working capital purposes. ClearThink was previously issued convertible notes in the principal amount of $200,000 on August 7, 2023, $15,000 on September 22, 2023 and $37,500 on December 20, 2023 in connection with loans made to support the Company's operations.
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. Date: March 21, 2024 Can B Corp . By: /s/ Marco Alfonsi Name: Marco Alfonsi Title: CEO