Form 4: Michael Heinrich Reports ZeroStack Corp. Convertible Note Settlement

Michael Heinrich, Executive Chairman and Director of ZeroStack Corp., reported the settlement of a convertible promissory note with Zero Gravity Labs Inc., a company he controls.

Summary

• Michael Heinrich, who is a Director and Executive Chairman of ZeroStack Corp., has filed a Form 4 statement detailing a transaction related to a convertible promissory note.
• The transaction involves the settlement of a convertible promissory note issued to Zero Gravity Labs Inc., a Delaware corporation owned and controlled by Michael Heinrich.
• The settlement occurred on March 31, 2026, and involved the Issuer paying 50,000,000 Tokens to Zero Gravity Labs Inc.
• Upon this payment, the convertible promissory note is considered fully satisfied, with no further obligations from the Issuer to Zero Gravity Labs Inc.
• The original note was issued pursuant to a securities purchase agreement dated September 22, 2025, and amended on October 9, 2025.
• The note had a principal amount of 50,000,000 0G bitcoin tokens.
• The filing indicates that Michael Heinrich beneficially owns 4,902,220 shares indirectly through Zero Gravity Labs Inc.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. It reports a completed transaction to settle a debt obligation, which is a standard corporate action, but lacks detailed financial context or forward-looking information to suggest a significant positive or negative impact.

Positives

• The settlement of the convertible promissory note resolves a financial obligation for ZeroStack Corp., potentially simplifying its balance sheet.
• The transaction is structured to fully satisfy the note's principal and interest, indicating a clear resolution.
• Michael Heinrich, as a key executive and director, is reporting this transaction, demonstrating transparency.

Negatives

• The filing does not provide specific details on the value of the 50,000,000 Tokens paid, making it difficult to assess the exact financial impact of the settlement.
• The original note was for 50,000,000 0G bitcoin tokens, suggesting a significant potential liability that has now been settled, but the precise financial terms of the settlement are not fully detailed in terms of dollar value.

Risks

• The reliance on 'Tokens' for settlement introduces volatility and valuation risks if the tokens' value fluctuates significantly.
• The nature of the underlying '0G bitcoin tokens' and their market value is not detailed, posing a potential risk if their value is not stable or transparently reported.
• The filing does not explicitly state the financial health of ZeroStack Corp. or its ability to make such token payments, which could be a risk.

Future Outlook

The filing does not contain explicit forward-looking statements or guidance regarding future financial performance or strategic initiatives of ZeroStack Corp. It primarily reports on a past transaction.

Management Comments

• The filing is a standard SEC Form 4, which is a disclosure document and does not typically contain direct management commentary or quotes.
• The 'Explanation of Responses' section clarifies the details of the note settlement agreement and the nature of the securities involved.

Industry Context

StockSavvy.ai notes that Form 4 filings are routine disclosures for insiders of publicly traded companies, indicating changes in beneficial ownership. This specific filing pertains to a debt settlement involving a significant amount of 'tokens,' which is becoming increasingly common in industries integrating digital assets or blockchain technology. The settlement of a convertible note by a controlled entity suggests a move towards simplifying the capital structure or resolving outstanding obligations.

Related Party Transactions

• The settlement of a convertible promissory note between ZeroStack Corp. and Zero Gravity Labs Inc., where Zero Gravity Labs Inc. is owned and controlled by Michael Heinrich (a Director and Officer of ZeroStack Corp.), constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The settlement of the note may simplify the company's capital structure and reduce potential future dilution or debt obligations, which could be viewed positively. However, the lack of specific valuation for the token settlement makes the precise financial impact unclear.
• Creditors: The resolution of this note may improve the company's financial standing by clearing an obligation.
• Management/Insiders: Michael Heinrich, as both a reporting person and controller of the entity receiving the settlement, is directly involved in this transaction.

Next Steps

• The filing itself represents the completion of a specific transaction (note settlement).
• Future filings by Michael Heinrich or ZeroStack Corp. would be required to report any further changes in beneficial ownership or significant corporate events.

Key Dates

Keywords

Form 4, SEC Filing, ZeroStack Corp, Michael Heinrich, Convertible Promissory Note, Note Settlement, Zero Gravity Labs Inc, Beneficial Ownership, Securities Transaction, Tokens