Business Context and Reporting Period
Company: Our Bond, Inc. (Nevada corporation, trading symbol OBAI on Nasdaq)
Filing Type: Form 8-K (Current Report)
Date of Report: March 1, 2026
Reporting Period: Events occurring on March 1, 2026
Key Financial Metrics and Agreements
This filing reports on specific material agreements rather than periodic financial performance. No revenue, profit, cash flow, or margin data is provided in this document.
- Warrant Amendment: Amendment No. 1 to Warrants issued October 27, 2025.
- Total shares affected: 12,000,000 (out of 15,991,902 remaining purchasable shares).
- Original Exercise Price: $12.35 per share.
- Temporary Reduced Exercise Prices (90-day period):
- 4,500,000 shares at $2.25 per share.
- 3,750,000 shares at $2.75 per share.
- 3,750,000 shares at $3.25 per share.
- Reversion: Prices revert to $12.35 after the 90-day period.
- Promissory Note: Issued to Ascent Partners Fund, LLC.
- Principal Amount: $2,500,000.
- Interest Rate: 10% per annum (24% per annum upon default).
- Maturity Date: September 1, 2026.
- Repayment Covenant: 25% of net proceeds from future securities offerings must be applied to payment until paid in full.
- Late Fee: 10% of the late payment amount.
Material Changes Versus Prior Period
The filing does not provide comparative financial data (e.g., revenue or earnings) against a prior period. The material changes reported are:
- Significant reduction in the exercise price for a portion of outstanding warrants, effective immediately for a 90-day window.
- Incurring of new debt obligation ($2.5 million) with specific repayment covenants tied to future capital raises.
Guidance, Outlook, Risks, and Contingencies
Management Commentary: The filing contains no forward-looking guidance or management outlook regarding future operations or financial performance.
Risks and Contingencies:
- Dilution Risk: The temporary reduction in warrant exercise prices significantly lowers the barrier for holders to exercise warrants, potentially leading to immediate dilution of existing shareholders.
- Liquidity and Default Risk: The Promissory Note includes strict default triggers, including failure to pay within 5 business days, default on other indebtedness exceeding $150,000, or a change in control. Default increases interest to 24% and incurs late fees.
- Capital Raise Constraint: The requirement to apply 25% of net proceeds from future offerings to the Note may limit the company's ability to retain capital from future fundraising efforts.
Important Facts for Investor Verification
- Verify the exact expiration date of the 90-day reduced exercise price window for the warrants.
- Confirm the total number of warrants currently outstanding and the specific tranche allocations for the price reduction.
- Review the full text of the Promissory Note (Exhibit 10.1) for additional covenants not summarized in the 8-K.
- Assess the company's current cash position and ability to service the $2.5 million note without relying on future equity offerings.
- Check for any subsequent filings regarding the exercise of warrants during the 90-day window.