Damon INC 8-K filings

Damon Inc. has entered into a $300,000 promissory note with its Chief Financial Officer and a director, bearing a 15% annual interest rate and subordinated to existing debt.

Damon Inc. announced the sale of its Grafiti UK subsidiary for $117,931.03 and an independent valuation of its intellectual property at $171.4 million.

Damon Inc. has formalized new three-year employment agreements for its Chief Executive Officer, Dominique Kwong, and Chief Financial Officer, Baljinder Bhullar, outlining their compensation, equity incentives, and termination provisions.

Damon Inc. has completed a 1-for-125 reverse stock split, reducing its outstanding shares to 19.6 million, following its delisting from Nasdaq and continued trading on the OTCID Basic Market.

Damon Inc. has appointed CBIZ CPAs P.C. as its new independent auditor following the acquisition of Marcum LLP's attest business, while facing ongoing concerns about its ability to continue as a going concern and previously disclosed material weaknesses in internal controls.

Damon Inc. announced an amended settlement agreement with a former financial advisor, reducing the outstanding payment obligation from $1,000,000 to a one-time cash payment of $350,000, while also confirming its Nasdaq delisting.

Damon Inc. will resume trading on Nasdaq for one day before moving to the OTC Pink Current Market after foregoing its appeal against Nasdaq's delisting determination.

Damon Inc. received a notification from Nasdaq regarding potential delisting due to concerns over substantial shareholder dilution resulting from a recent securities issuance.

Damon Inc. received a delisting notice from Nasdaq due to its common shares trading below $0.10 for ten consecutive days and plans to appeal the decision and implement a reverse stock split.

Damon Inc. partners with Engines Engineering S.p.a. to develop its Hypersport Race electric motorcycle under a €1.58 million agreement.

Damon Inc. terminates loan agreements with Braebeacon Holdings Inc. and East West Capital, LLC, as no funds were ever disbursed.

Damon Inc. completed a $15 million unit offering and is addressing a Nasdaq listing deficiency.

Damon Inc. will restate its financial statements for the three and six months ended December 31, 2024, due to a $2.3 million understatement of transaction costs related to the Damon Motors Inc. business combination.

Damon Inc. has amended its agreements with Streeterville Capital, granting conversion rights on a secured promissory note and clarifying shareholder approval requirements based on its status as a foreign private issuer.

Damon Inc. received a notice from Nasdaq for failing to maintain a minimum share price of $1.00, putting its listing at risk.

Damon Inc. received a notice from Nasdaq stating its market value of listed securities fell below the required $50 million, potentially leading to delisting.

Damon Inc. has entered into a securities purchase agreement with Streeterville Capital, LLC, for up to $10 million in financing through pre-paid purchases of common stock.

Damon Inc. has entered into indemnification agreements with its officers and directors and approved compensation for non-executive directors.

Damon Inc. has appointed an interim CEO and board chair following the resignation of its former CEO, and converted all multiple voting shares to common shares.

Damon Inc. released a CEO letter detailing development progress, funding hurdles, and a production roadmap, highlighting over 3,000 refundable reservations and advancements in vehicle technology.

Damon Inc. announces it will benefit from California's new Zero-Emission Motorcycle (ZEM) mandates, creating a new revenue stream through the sale of carbon credits.

Damon Inc., a maker of high-performance electric motorcycles, began trading on the Nasdaq Global Market on November 18, 2024, under the ticker symbol DMN, with over $100 million in reservations for its HyperSport and HyperFighter models.

Damon Motors has finalized its merger with Grafiti Holding Inc., and the combined entity, Damon Inc., is slated to begin trading on the Nasdaq Global Market on November 18, 2024.