Mitesco, Inc. Files 8-K/A Amendment

TL;DR

Mitesco filed an 8-K/A amendment, updating material agreements and financials as of Sept 28, 2024.

AI Summary

Mitesco, Inc. filed an 8-K/A on October 11, 2024, to amend a previous filing. The earliest event reported in this amendment is September 28, 2024. The filing pertains to material definitive agreements, other events, and financial statements and exhibits.

Why It Matters

This amended filing provides updated information regarding material agreements and financial disclosures for Mitesco, Inc., which could impact investor understanding of the company's current status.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous report and does not introduce new material events or financial distress.

Key Players & Entities

• Mitesco, Inc. (company) — Registrant
• September 28, 2024 (date) — Earliest event reported date
• October 11, 2024 (date) — Filing date
• Nevada (jurisdiction) — State of incorporation
• True Nature Holding, Inc. (company) — Former company name
• Trunity Holdings, Inc. (company) — Former company name
• BRAIN TREE INTERNATIONAL INC (company) — Former company name

FAQ

Key Financial Figures

• $3 million — tock, or cancellation, of approximately $3 million of obligations. The agreement calls for
• $4.00 — e determined using a price per share of $4.00. There is also an undertaking to file a

Filing Documents

• mitesco20241009_8ka.htm (8-K/A) — 28KB
• ex_731069.htm (EX-10.1) — 51KB
• ex_731070.htm (EX-10.2) — 11KB
• 0001185185-24-000978.txt ( ) — 229KB
• miti-20240928.xsd (EX-101.SCH) — 3KB
• miti-20240928_lab.xml (EX-101.LAB) — 20KB
• miti-20240928_pre.xml (EX-101.PRE) — 11KB
• mitesco20241009_8ka_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement. Restructuring plans and elimination of obligations This is an update from the Form 8-K filed on October 4, 2024 The Company has begun a restructuring of its obligations including all debts, notes, accounts payable and certain of its previously issued preferred shares. As of this date, and effective September 28, 2024, it has received executed agreements for the exchange into restricted common stock, or cancellation, of approximately $3 million of obligations. The agreement calls for the number of shares to be issued in exchange for the debt cancellation to be determined using a price per share of $4.00. There is also an undertaking to file a registration statement for the shares within 120 days. The Company expects to realize a substantial gain on the transactions, subject to final review by its auditors. As contemplated it expects to issue approximately 750,000 shares of stock in conjunction with these transactions. A copy of the form of the Obligation Exchange agreement is included in the exhibits to this filing along with a copy of the letter that accompanied the exchange agreements. Extinguishment of all outstanding warrants The Company is in the process of notifying the holders of any outstanding warrants that it intends to cancel those warrants effective immediately. All participants in its restructuring activities, including the obligation exchange noted above, have agreed to the cancelation of their warrants. All of the warrants were priced at levels that make them useless in the near term, and the accounting related to their existence has become excessively burdensome.

01

Item 8.01 Other Events. The Company is in discussions with various of its institutional investors regarding its restructuring plans and expects to make further progress over the next few weeks and months. The goal is to have substantially all of its payables, notes and other obligations extinguished by the end of the fiscal year, December 31, 2024. While it has received positive and supportive feedback from those with whom it has discussed the plans, there can be no assurance that the restructuring will be successful, or that the current business activities will grow to a level that can support the costs associated with being a public company.

Financial Statements and Exhibits

Financial Statements and Exhibits. Exhibits Description 10.1 Form of obligation exchange agreement 10.2 Form of letter accompanying the obligation exchange agreement 104 Cover Page Interactive Data File (formatted as Inline XBRL) SIGNATURE 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. Dated: October 11, 2024 MITESCO, INC. By: /s/ Mack Leath Mack Leath Chairman and CEO

View Full Filing

View this 8-K/A filing on SEC EDGAR