Business Context and Reporting Period
This Form 8-K is a current report filed by Know Labs, Inc. (not USBC, Inc.) on December 17, 2024. The registrant is incorporated in Nevada and trades on the NYSE American under the symbol KNW. The report details a material definitive agreement regarding the company's debt obligations.
Key Financial Metrics
This filing does not contain standard financial performance metrics such as revenue, profit, cash flow, or margins. The primary financial disclosure relates to the restructuring of existing debt instruments:
- Debt Instrument: Senior Secured Convertible Redeemable Notes.
- Counterparty: Clayton Struve.
- Original Due Date: September 30, 2024.
- New Due Date: September 30, 2025.
Material Changes
The material change reported is the extension of the maturity dates for four specific Senior Secured Convertible Redeemable Notes by one year. The amendments were approved on December 17, 2024, pushing the repayment deadline from September 30, 2024, to September 30, 2025. This action addresses obligations that were originally due in the prior fiscal period.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future operations, or specific risk factors beyond the implications of the debt extension. The document focuses solely on the execution of the amendments to the notes dated September 30, 2016; August 14, 2017; December 12, 2017; and February 28, 2018.
Investor Verification Checklist
- Verify the total principal amount outstanding on the four amended notes to assess the scale of the deferred liability.
- Review the full text of the attached exhibits (10.1 through 10.4) to determine if the extension included changes to interest rates, conversion terms, or additional covenants.
- Confirm whether the extension of these notes impacts the company's compliance with other debt agreements or liquidity requirements.
- Check subsequent filings for any further amendments or defaults related to these instruments.