Stewards, Inc. (SWRD) Form 8-K — Aug 7, 2026
Stewards, Inc. entered into Amendment No. 1 to its Promissory Note with FAVO Holdings, LLC after failing to pay the $1.6 million final installment that was due May 31, 2026. The amendment extends the maturity of that installment to September 1, 2026 on the remaining balance of the original $4.7 million note dated June 1, 2023.
Key figures
- Debt Amount
- 1600000
- Interest Rate
- 10% per annum on the outstanding $1,600,000 from June 1, 2026
- Maturity Date
- September 1, 2026
- Holder ownership
- FAVO Holdings, LLC owned 65% by Vincent Napolitano and 35% by Shaun Quin
- Original maturity
- May 31, 2026
- Original note date
- June 1, 2023
- Prior interest rate
- 6.0% per annum
- Default interest rate
- 15% per annum (waived June 1 - September 1, 2026, reinstated if extended payment is missed)
- Original note principal
- 4700000
- Extension period interest usd
- 40000
AI analysis
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