Metaworks Platforms Reports Unregistered Equity Sale
Ticker: WAST · Form: 8-K · Filed: Mar 5, 2024 · CIK: 1515139
| Field | Detail |
|---|---|
| Company | Metaworks Platforms, Inc. (WAST) |
| Form Type | 8-K |
| Filed Date | Mar 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.02, $50,000, $25,000, $75,000, $80,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, unregistered-securities
Related Tickers: MWOR
TL;DR
MWOR sold unregistered shares on 3/1 - details TBD.
AI Summary
On March 1, 2024, Metaworks Platforms, Inc. reported an unregistered sale of equity securities. The filing does not disclose the specific number of shares sold or the dollar amount of the transaction, but it indicates a material event occurred on this date.
Why It Matters
This filing indicates a potential dilution of existing shares or a capital raise, which could impact the stock price and ownership structure.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes signal financial distress or a need for quick capital, and the lack of specific details in this initial report warrants caution.
Key Players & Entities
- Metaworks Platforms, Inc. (company) — Registrant
- March 1, 2024 (date) — Date of earliest event reported
FAQ
What type of equity securities were sold?
The filing does not specify the type of equity securities sold.
What was the aggregate purchase price of the securities sold?
The filing does not disclose the aggregate purchase price of the securities sold.
Were the securities sold to accredited investors?
The filing does not provide information on whether the purchasers were accredited investors.
What is the purpose of this unregistered sale of equity securities?
The filing does not state the purpose of the unregistered sale of equity securities.
Has Metaworks Platforms, Inc. previously engaged in unregistered sales of equity securities?
This filing does not provide historical information on previous unregistered sales.
Filing Stats: 918 words · 4 min read · ~3 pages · Grade level 11.2 · Accepted 2024-03-05 17:03:59
Key Financial Figures
- $0.02 — res of our common stock at a price of US$0.02 per share for aggregate gross proceeds
- $50,000 — share for aggregate gross proceeds of US$50,000. The purchaser is one individual invest
- $25,000 — shares. On March 1, 2024 we converted $25,000 of debt into 625,000 shares of our comm
- $75,000 — he "Holder") to raise a net amount of US$75,000, pursuant to the terms and subject to t
- $80,000 — e Promissory Note is in the amount of US$80,000, plus a one-time interest charge of 15%
- $14,400 — us a one-time interest charge of 15% (US$14,400), which accrues on issuance of the Prom
- $16,000 — d to an original issuance discount of US$16,000. The total amount of the Promissory N
- $110,400 — otal amount of the Promissory Note of US$110,400 (including principal and interest) will
- $55,200 — be repaid in one(1) balloon payment of $55,200 due August 30, 2024. After the balloon
- $13,800 — on payment, five (5) payments each of US$13,800, the first payment due on September 30,
Filing Documents
- form8-k.htm (8-K) — 36KB
- 0001493152-24-008874.txt ( ) — 199KB
- mwrk-20240301.xsd (EX-101.SCH) — 3KB
- mwrk-20240301_lab.xml (EX-101.LAB) — 33KB
- mwrk-20240301_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
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. METAWORKS PLATFORMS, INC. /s/ Scott Gallagher Scott Gallagher President March 5, 2024