Eva Live Inc — Form 8-K
Filed October 7, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 62/100
What the filing says
Eva Live Inc. (market cap ~$51.1M) received $787.5K from DUNE EQUITY HOLDINGS LLC on October 2, 2026, under a secured convertible promissory note with up to $1.875M principal available in tranches. The note carries 12% interest, $300K original issue discount, converts at $2.50/share (or 65% of 10-day market price if triggered), matures 12 months from funding, requires amortization payments starting 15 days post-funding, and is secured by substantially all company assets. Buyer received 75,000 commitment shares immediately; up to 75,000 more shares contingent on delisting-adjusted make-whole provisions. Company must obtain shareholder approval within 90 days for issuance of shares beyond 7,994,828 (Exchange Cap).
Why this rating
Dilutive convertible debt equals 1.5% of market cap; adds leverage; restrictive covenants and multiple event-of-default triggers create operational constraints; shareholder approval requirement signals dilution concerns.
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