KeyStar Corp. Files Current Report on Form 8-K

TL;DR

KeyStar Corp. just filed an 8-K for a new financial obligation. Keep an eye on this.

AI Summary

On May 29, 2024, KeyStar Corp. entered into a direct financial obligation. The company, incorporated in Nevada, has its principal executive offices in Sarasota, Florida. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.

Why It Matters

This filing indicates KeyStar Corp. has entered into a new financial obligation, which could impact its financial standing and future operations.

Risk Assessment

Risk Level: low — The filing is a standard 8-K reporting a financial obligation, without immediate details suggesting significant risk.

Key Players & Entities

• KeyStar Corp. (company) — Registrant
• May 29, 2024 (date) — Earliest event reported
• Nevada (jurisdiction) — State of incorporation
• Sarasota, Florida (location) — Principal executive offices
• 866-783-9435 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $2,000,000 — n the principal amount of not more than $2,000,000 (the " Note "). The aggregate outstandi
• $1,135,000 — the Note as of the date of the Note was $1,135,000. On May 29, 2024, we borrowed an addi
• $485,000 — May 29, 2024, we borrowed an additional $485,000 under the Note. As of June 4, 2024, the
• $6,820,000 — balance of all loans under the Note is $6,820,000. All loans made under the Note accrue
• $0.50 — period, the Lowest Recent Price will be $0.50 per Share. In case of a stock split,

Filing Documents

• form8-k.htm (8-K) — 39KB
• 0001493152-24-022514.txt ( ) — 206KB
• keyr-20240529.xsd (EX-101.SCH) — 3KB
• keyr-20240529_lab.xml (EX-101.LAB) — 33KB
• keyr-20240529_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. In a Current Report on Form 8-K filed on January 4, 2024, KeyStar Corp., a Nevada corporation (the " Company, " " we " or " our ") disclosed that on December 29, 2023 we entered into a Fifth Amended and Restated Discretionary Non-Revolving Line Of Credit Demand Note with Excel Family Partners, LLLP, a Florida limited liability limited partnership (" Excel ") in the principal amount of not more than $2,000,000 (the " Note "). The aggregate outstanding principal balance of all loans under the Note as of the date of the Note was $1,135,000. On May 29, 2024, we borrowed an additional $485,000 under the Note. As of June 4, 2024, the aggregate outstanding principal balance of all loans under the Note is $6,820,000. All loans made under the Note accrue interest at a fixed rate per annum equal to 15.0% (the " Fixed Rate "). On the first day of each month to the date on which Excel demands payment of the Note, we will pay to Excel interest, in arrears, on the aggregate outstanding principal balance of the Note at the Fixed Rate. Notwithstanding the above, outstanding principal and accrued and unpaid interest are due and payable upon demand. We have the right to prepay the Note, in whole or in part, at any time; provided, however, we must (i) provide Excel prior written notice of our intention to make such prepayment; and (ii) pay to Excel all interest accrued on the outstanding principal balance of the Note to the date of such prepayment. If we: (i) fail to comply with any provision under the Note, including, but not limited to, failing to immediately pay all amounts due to Excel after demand thereof is made; or (ii) become subject to certain bankruptcy or insolvency events, at the option of Excel, the unpaid principal amount of the Note, accrued interest thereon, any fees or any other sums payable thereunder will thereafter until paid in fu

Financial Statements and Exhibits

Financial Statements and Exhibits Exhibit No. Description 10.1 Fifth Amended and Restated Discretionary Non-Revolving Line Of Credit Demand Note dated December 29, 2023 made by KeyStar Corp. (incorporated by reference to Exhibit 10.1 to KeyStar Corp's. Current Report on Form 8-K filed on January 4, 2024) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3

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: June 4, 2024 KEYSTAR CORP. By: /s/ James Mackey James Mackey, CFO 4

View Full Filing

View this 8-K filing on SEC EDGAR