Wytec raises $62K via high-cost promissory note

Wytec International, Inc. entered a securities purchase agreement with 1800 Diagonal Lending LLC and issued a $71,300 promissory note that closed on March 3, 2026.

Rhea-AI Filing Summary

Wytec International, Inc. entered a securities purchase agreement with 1800 Diagonal Lending LLC and issued a $71,300 promissory note that closed on March 3, 2026. The note was sold at a discount for $62,000, includes a $8,556 one-time 12% interest charge, and matures on December 30, 2026 with five scheduled payments from August through December 2026.

Wytec can prepay the note in full at any time without penalty and receive a 2–5% discount if prepaid within 180 days of issuance. On default, the outstanding principal plus accrued interest increase by 150% and begin accruing at 22% annual interest. In a default, 1800 Diagonal may instead convert the debt into common stock at 65% of the lowest trading price over the prior ten trading days, subject to a 4.99% ownership cap on Wytec’s outstanding shares.

Insights

Capital structure and credit analyst

Wytec adds high-cost, default-contingent convertible debt to its balance sheet.

The company obtained $62,000 in cash by issuing a $71,300 promissory note with an original issue discount and a one-time 12% interest charge. This implies relatively expensive financing, which often reflects limited access to lower-cost capital sources.

Repayment is concentrated in five installments between August 30, 2026 and December 30, 2026, creating a defined near-term debt service schedule. The ability to prepay without penalty, with a 2–5% discount if done within 180 days, offers some flexibility if liquidity improves.

Default terms are much harsher: principal and accrued interest increase by 150% and the rate rises to 22% annually. In addition, the lender may convert the defaulted amount into equity at 65% of the lowest trading price over ten days, capped at 4.99% ownership. This structure can lead to significant dilution if a default occurs, so future disclosures about Wytec’s ability to meet these payments will be important context.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What financing did Wytec International (WYTC) enter with 1800 Diagonal Lending?

Wytec issued a promissory note with a $71,300 principal amount to 1800 Diagonal Lending, receiving $62,000 in cash after an original issue discount. The deal closed on March 3, 2026, under a securities purchase agreement with customary terms and conditions.

What are the key terms and costs of Wytec’s new $71,300 note?

The note carries an original issue discount of $9,300 and a one-time 12% interest charge of $8,556 at issuance. It matures on December 30, 2026 and requires five scheduled payments from August through December 2026 to fully repay principal and interest.

When must Wytec (WYTC) repay the 1800 Diagonal promissory note?

The note matures on December 30, 2026. Wytec must make payments of $39,928 on August 30, then four payments of $9,982 each on September 30, October 30, November 30, and December 30, 2026, to satisfy the scheduled obligation.

Can Wytec prepay the 1800 Diagonal Lending note, and are there discounts?

Wytec may prepay the note in full at any time with no prepayment penalty. If it prepays within 180 calendar days of the issuance date, the company receives a 2% to 5% discount on the repayment amount, reducing its effective financing cost.

What happens if Wytec defaults on the 1800 Diagonal promissory note?

On default, the outstanding principal plus accrued, unpaid interest increase by 150% and begin accruing at 22% annual interest. 1800 Diagonal may instead convert the defaulted amount into common stock at 65% of the lowest trading price over ten days, subject to a 4.99% ownership cap.

How could the 1800 Diagonal note affect Wytec’s common stock?

If a default occurs, 1800 Diagonal may convert amounts owed into Wytec common stock at 65% of the lowest 10-day trading price. However, conversions are limited so the lender and affiliates cannot hold more than 4.99% of outstanding shares at any time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 03/09/2026 - 05:26 PM Learn about SEC filing dates

false 0001560143 0001560143 2026-03-03 2026-03-03 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 3, 2026

WYTEC INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation)

001-39478	46-0720717
(Commission File Number)	(I.R.S. Employer Identification No.)

19206 Huebner Road, Suite 202, San Antonio, Texas	78258
(Address of principal executive offices)	(Zip Code)

(210) 233-8980

(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR240.14d-2(b))

☐ Soliciting material pursuant to Rule 14a-12 under Exchange Act (17 CFR240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each Class	Trading Symbol	Name of each exchange on which registered
Common Stock	WYTC	OTCQB

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

SECTION 1. REGISTRANT’S BUSINESS AND OPERATIONS

Item 1.01 Entry into a Material Definitive Agreement.

Wytec International, Inc., a Nevada corporation (“Wytec”), entered into a securities purchase agreement (the “1800 Diagonal SPA”) with 1800 Diagonal Lending LLC, a Virginia limited liability company (“1800 Diagonal”), which closed on March 3, 2026, pursuant to which Wytec sold 1800 Diagonal a promissory note in the principal amount of $71,300 (the “1800 Diagonal Note”). The 1800 Diagonal Note included an original issue discount of $9,300 and was purchased for an aggregate of $62,000. A one-time interest charge of 12% was applied to the principal amount on the issuance date of the 1800 Diagonal Note in the amount of $8,556. The 1800 Diagonal Note has a maturity date of December 30, 2026 and is payable as follows: $39,928 on August 30, 2026; $9,982 on September 30, 2026; $9,982 on October 30, 2026; $9,982 on November 30, 2026; and $9,982 on December 30, 2026. Wytec has the right to prepay the 1800 Diagonal Note in full at any time with no prepayment penalty and will receive a discount on the prepayment amount, ranging from 2% to 5%, if Wytec prepays the 1800 Diagonal Note within 180 calendar days following the issuance date of the 1800 Diagonal Note. The 1800 Diagonal SPA contains customary terms and conditions.

In the event of a default on the 1800 Diagonal Note, the outstanding principal and accrued and unpaid interest amount of the 1800 Diagonal Note will be increased by 150% and the 1800 Diagonal Note will accrue interest at a rate of 22% per annum. Additionally, in the event of a default on the 1800 Diagonal Note, 1800 Diagonal will have the option, exercisable in its sole discretion, to convert the 1800 Diagonal Note into shares of Wytec’s common stock at a conversion price per share equal to 65% the lowest trading price of Wytec’s common stock during the ten trading day period ending on the latest completed trading day prior to the conversion date; provided, however, at no time may the 1800 Diagonal Note be converted into shares of Wytec’s common stock if such conversion would result in 1800 Diagonal and its affiliates owning an aggregate of more than 4.99% of the then outstanding shares of Wytec’s common stock.

The above description of the 1800 Diagonal SPA and 1800 Diagonal Note is not complete and is qualified in its entirety by the full text of the 1800 Diagonal SPA and 1800 Diagonal Note, filed herewith as Exhibits 10.1 and 10.2, respectively, which are incorporated by reference into this Item 1.01.

SECTION 2. FINANCIAL INFORMATION

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 by reference in its entirety into this Item 2.03.

SECTION 9. FINANCIAL STATEMENTS, PRO FORMA FINANCIALS & EXHIBITS

Item 9.01 Financial Statements and Exhibits.

(d)       Exhibits

	10.1	Securities Purchase Agreement with 1800 Diagonal Lending LLC
	10.2	Promissory Note with 1800 Diagonal Lending LL
	104	Cover Page Interactive Data File (embedded within the inline XBRL Document).

2

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: March 9, 2026	/s/ William H. Gray
	William H. Gray, Chief Executive Officer

3

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 SECURITIES PURCHASE AGREEMENT 70.9 KB
• EX-10.2 PROMISSORY NOTE WITH 1800 DIAGONAL LENDING LL 92.4 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB