WYTEC INTERNATIONAL INC 8-K

What Happened

• Wytec International, Inc. (WYTC) filed an 8-K on March 26, 2026 reporting an amendment (effective February 13, 2026) to an unsecured promissory note originally issued February 25, 2020 in the principal amount of $625,000 to director Christopher Stuart.
• The amendment waived any default under the note and changed the maturity extension terms—allowing Wytec to extend the note by eleven additional six‑month periods (vs. nine previously). In connection with the amendment, Wytec issued Mr. Stuart 124,000 warrants to purchase common stock.

Key Details

• Note principal: $625,000 (original note dated Feb 25, 2020; multiple prior amendments).
• Amendment effective date: February 13, 2026; executed March 24, 2026.
• Warrants issued: 124,000 warrants, exercisable through December 31, 2026 at $1.50 per share.
• Exercise-price adjustment: ten days after Wytec’s common stock begins trading on the NASDAQ (or equivalent market), the exercise price will automatically adjust to the greater of $1.50 or 85% of the 10‑day moving average trading price.
• Filing context: Item 1.01 (material agreement), Item 2.03 (creation/continuation of a financial obligation), and Item 3.02 (unregistered issuance of equity securities).

Why It Matters

• The amendment avoids an immediate default consequence and pushes out the debt repayment timeline, reducing near-term cash or refinancing pressure on the company.
• Issuing 124,000 warrants creates potential equity dilution if exercised; the warrants’ exercise price and its post‑listing adjustment are tied to future public trading, which can affect the economics for both the holder and existing shareholders.
• Investors should note the continuing related‑party nature of the transaction (the note holder is a director) and review the filed amendment and warrant exhibits for full terms.