WYTEC INT'L: New Debt, Officer Changes, Shareholder Rights Modified

TL;DR

**WYTEC just took on new debt, changed leadership, and altered shareholder rights.**

AI Summary

WYTEC INTERNATIONAL INC entered into a material definitive agreement on January 31, 2024, which created a direct financial obligation and modified the rights of security holders. This filing also indicates a departure of directors or certain officers and the appointment of new ones, along with compensatory arrangements. This matters to investors because significant changes in financial obligations, security holder rights, and executive leadership can impact the company's financial health, future strategic direction, and ultimately, stock valuation.

Why It Matters

These changes could signal a strategic shift or financial restructuring, directly affecting the company's risk profile and potential for future growth or dilution for existing shareholders.

Risk Assessment

Risk Level: high — The combination of new financial obligations, changes to security holder rights, and executive turnover introduces significant uncertainty and potential for adverse impacts on the stock.

Analyst Insight

A smart investor would thoroughly investigate the details of the 'Material Definitive Agreement', the nature of the 'Direct Financial Obligation', the 'Material Modifications to Rights of Security Holders', and the specifics of the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' once the full filing is available, as these items collectively represent significant changes that could impact the company's future.

Key Players & Entities

• WYTEC INTERNATIONAL INC (company) — the registrant filing the 8-K
• January 31, 2024 (date) — date of earliest event reported
• Nevada (company) — state of incorporation for WYTEC INTERNATIONAL INC
• 001-39478 (company) — Commission File Number for WYTEC INTERNATIONAL INC
• 46-0720717 (company) — I.R.S. Employer Identification No. for WYTEC INTERNATIONAL INC
• 19206 Huebner Road, Suite 202, San Antonio, Texas 78258 (company) — address of principal executive offices for WYTEC INTERNATIONAL INC
• (210) 233-8980 (company) — telephone number for WYTEC INTERNATIONAL INC

FAQ

Key Financial Figures

• $625,000 — ory in the original principal amount of $625,000, dated February 25, 2020, as amended on
• $5.00 — 's common stock at an exercise price of $5.00 per share exercisable on a cash or cash

Filing Documents

• wytec_8k.htm (8-K) — 32KB
• wytec_ex0401.htm (EX-4.1) — 9KB
• wytec_ex0402.htm (EX-4.2) — 9KB
• wytec_ex0403.htm (EX-4.3) — 50KB
• wytec_ex1001.htm (EX-10.1) — 9KB
• 0001683168-24-000677.txt ( ) — 292KB
• wytc-20240131.xsd (EX-101.SCH) — 3KB
• wytc-20240131_lab.xml (EX-101.LAB) — 33KB
• wytc-20240131_pre.xml (EX-101.PRE) — 22KB
• wytec_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On or about February 5, 2024, Wytec International, Inc., a Nevada corporation ("Wytec"), amended (the "Amendment") that certain unsecured promissory in the original principal amount of $625,000, dated February 25, 2020, as amended on August 13, 2022 (the "Note") in order to allow Wytec to extend the maturity date of the Note by seven (7) additional six month periods instead of five (5) additional six month periods. A copy of the Amendment is attached to this Report as Exhibit 10.1. SECTION 2. FINANCIAL INFORMATION

03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated herein by reference. SECTION 3. SECURITIES AND TRADING MARKETS

03 Material Modification to Rights of Security Holders

Item 3.03 Material Modification to Rights of Security Holders. On January 31, 2024, the Board of Directors of Wytec authorized an extension from January 31, 2024 to December 31, 2024 of the expiration date of 85,784 common stock purchase warrants issued on December 11, 2023 to Mr. Christopher Stuart, a director of the Company, and 71,233 common stock purchase warrants issued on December 11, 2023 to Eagle Rock Investments, L.L.C., a Louisiana limited liability company and an affiliate of Mr. Stuart ("ERI"), for good and valuable consideration already conferred upon the Company by Mr. Stuart and ERI. Copies of the amendments to the common stock purchase warrants are attached to this Report as Exhibits 4.1 and 4.2. SECTION 5. CORPORATE GOVERNANCE AND MANAGEMENT

02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On or about February 5, 2024, that certain warrant issued to Ms. Erica Perez, the director of operations and corporate secretary of Wytec, to purchase up to 25,000 shares of Wytec's common stock at an exercise price of $5.00 per share exercisable on a cash or cashless basis for a period of three years from the date of issuance was amended and restated in order to correct the expiration date to October 11, 2026 (the "Amended and Restated Warrant"). A copy of the Amended and Restated Warrant is attached to this Report as Exhibit 4.3. SECTION 9. FINANCIAL STATEMENTS, PRO FORMA FINANCIALS & EXHIBITS

01 Financial Statements

Item 9.01 Financial Statements and Exhibits. (d) Exhibits 4.1 Amendment to Warrant No. 524, dated January 31, 2024 4.2 Amendment to Warrant No. 527, dated January 31, 2024 4.3 Amended and Restated Erica Perez Warrant, dated February 5, 2024 10.1 Amendment to Christopher Stuart Promissory Note, dated February 5, 2024 104 Cover Page Interactive Data File (formatted in inline XBRL). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. WYTEC INTERNATIONAL, INC. (Registrant) Date: February 5, 2024 /s/ William H. Gray William H. Gray, Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR