Cyberloq to convert note interest at $0.10 a share
Cyberloq restructures its convertible debt into non‑interest‑bearing notes through 2028 and creates new dual common stock classes while preserving existing holders’ rights.
Rhea-AI Filing Summary
CYBERLOQ TECHNOLOGIES, INC. (CLOQ) amended and consolidated all outstanding convertible notes into new promissory notes that bear no ordinary interest from September 1, 2026 through September 1, 2028, with the consolidated principal due in cash on September 1, 2028 and subject to 12% default interest thereafter if unpaid.
Accrued and unpaid interest through August 31, 2026 will convert into common stock at a $0.10 per share price, after which all prior conversion rights are terminated, leaving the company with no outstanding convertible debt once those shares are issued. The company also amended its Articles of Incorporation to authorize 300,000,000 Class A Voting Common shares and 200,000,000 Class B Non-Voting Common
All existing common shares were automatically redesignated as Class A Voting Common Stock with unchanged economic and voting rights. The new Class B Non-Voting Common Stock carries no voting, dividend, distribution, or liquidation rights, and no conversion or exchange rights, and no Class B shares were issued in connection with this change.
Positive
- All outstanding convertible debt will be eliminated once interest converts at $0.10 per share and prior conversion rights are terminated, reducing overhang from potential equity dilution.
- Consolidated promissory notes bear no ordinary interest from September 1, 2026 through September 1, 2028, easing near‑term cash interest obligations for Cyberloq Technologies, Inc.
Negative
- None.
Filing Explained
The charter amendment is effective without issuing Class B shares; the cash obligation due September 1, 2028 is not sized.
The note restatement was signed on
As of
The filing does not state the consolidated principal amount, so this historical cash comparison cannot size the cash obligation due on
Sources and calculations
- September 16, 2026 Form 8-K (2026-09-16)
- Cyberloq Technologies, Inc. Q2 2026 fundamentals (2026Q2)
- Available liquidity against the last reported quarterly operating outflow, in days at that rate $49,975 / ($56,974 / 91) = 79.8 days
8-K Event Classification
Key Figures
Key Terms
Material Definitive Agreement regulatory
convertible notes financial
default interest financial
Class B Non-Voting Common Stock financial
written consent regulatory
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What debt restructuring did CLOQ announce on September 16, 2026?
How will Cyberloq’s accrued interest under the old convertible notes be handled?
Will Cyberloq (CLOQ) still have convertible debt after this transaction?
What rights does Cyberloq’s new Class B Non-Voting Common Stock have?
How was the amendment to Cyberloq’s Articles of Incorporation approved?
AI-generated analysis. How Rhea-AI works. Not financial advice.