CID Holdco, Inc. — Form 8-K
Filed July 2, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 72/100
What the filing says
CID HoldCo (Dot Ai, ticker DAIC) on June 26, 2026 entered a Note Purchase Agreement with Phillips Equities Trust, LLC for a $500,000 senior secured convertible note at 6% annual interest, maturing 12 months from funding. The note converts at 80% of lowest 5-day VWAP, subject to 4.99%–9.99% beneficial ownership limits. Simultaneously, the company fully retired White Lion Capital's ~$867,000 secured convertible notes and released all associated liens. The Lender also acquired the company's remaining J.J. Astor obligations (first lien priority). On June 23, 2026, Nasdaq confirmed compliance with the $1.00 minimum bid price rule. The company remains non-compliant with MVLS ($50M) and MVPHS ($15M) thresholds.
Why this rating
For a $7.2M company, $500K new debt + $867K debt retirement is material (~11.6% of market cap). Capital structure simplification and Nasdaq price compliance are positive; high debt burden, conversion dilution risk, and pending asset sale threaten viability.
Extracted items
- 1.01 material agreement
- 1.02 agreement termination
- 2.03 material obligation
- 3.02
- 7.01 Reg FD disclosure
- 8.01 other event
- 9.01 exhibits
View original filing on SEC.gov ↗
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