SCWorx Corp. Enters Material Definitive Agreement
Ticker: WORX · Form: 8-K · Filed: May 30, 2024 · CIK: 1674227
| Field | Detail |
|---|---|
| Company | Scworx Corp. (WORX) |
| Form Type | 8-K |
| Filed Date | May 30, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $330,000, $300,000, $30,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement
TL;DR
SCWorx just signed a big deal, details TBD.
AI Summary
SCWorx Corp. announced on May 24, 2024, that it entered into a material definitive agreement. The filing does not disclose specific details of the agreement, such as the counterparty or the financial terms involved.
Why It Matters
This filing indicates a significant new development for SCWorx Corp., potentially impacting its business operations and financial future.
Risk Assessment
Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and impact of the agreement.
Key Players & Entities
- SCWorx Corp. (company) — Registrant
- May 24, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by SCWorx Corp.?
The filing does not specify the nature of the agreement, only that a material definitive agreement was entered into on May 24, 2024.
Who is the counterparty to this material definitive agreement?
The filing does not disclose the name of the other party involved in the agreement.
What are the financial terms or implications of this agreement?
The filing does not provide any details regarding the financial terms or expected impact of the agreement.
When was the material definitive agreement entered into?
The agreement was entered into on May 24, 2024.
Is this agreement expected to significantly alter SCWorx Corp.'s business operations?
While the filing states it is a 'material definitive agreement,' it does not provide information to confirm or deny its expected impact on business operations.
Filing Stats: 494 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-05-30 15:36:13
Key Financial Figures
- $330,000 — d promissory note in the face amount of $330,000, in exchange for which it received cash
- $300,000 — which it received cash in the amount of $300,000 ("Note"). In addition to the original i
- $30,000 — ition to the original issue discount of $30,000, the note bears interest at the rate of
Filing Documents
- ea0207118-8k_scworx.htm (8-K) — 23KB
- 0001213900-24-047923.txt ( ) — 188KB
- worx-20240524.xsd (EX-101.SCH) — 3KB
- worx-20240524_lab.xml (EX-101.LAB) — 33KB
- worx-20240524_pre.xml (EX-101.PRE) — 22KB
- ea0207118-8k_scworx_htm.xml (XML) — 3KB
01. ENTRY INTO A MATERIAL DEFINITIVE
ITEM 1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT Amendment and Restatement of Outstanding Promissory Note As previously reported, on April 12, 2024, SCWorx Corp. (the "Registrant") issued a secured promissory note in the face amount of $330,000, in exchange for which it received cash in the amount of $300,000 ("Note"). In addition to the original issue discount of $30,000, the note bears interest at the rate of 5% per annum, is secured by all the Registrant's assets and was due and payable May 10, 2024. On May 10, 2024, the Registrant and the holder of the Note amended and restated the Note to extend the maturity date until May 17, 2024. On May 17, 2024, the Registrant and the holder of the Note amended and restated the Note to further extend the maturity date until May 24, 2024. On May 24, 2024, the Registrant and the holder of the Note amended and restated the Note to further extend the maturity date until May 31, 2024 1
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. SCWorx Corp. By: /s/ Timothy Hannibal Timothy Hannibal CEO Dated: May 30, 2024 2