Sky Quarry to issue shares to LendSpark to settle $638,998 in past-due debt
Sky Quarry agreed to settle $638,998 in past-due or defaulted liabilities owed to LendSpark Corporation by issuing common stock, under a settlement approved by a Florida court on October 2, 2026. The shares will be issued without registration under Section 3(a)(10) of the Securities Act, so shareholders face potential dilution from newly issued shares.
Key points
- Claim Amount settled: $638,998.00, owed to LendSpark Corporation and described as past due or in default
- Settlement Shares are issued in up to two tranches at the lower of the prior day's closing price or the five-day average closing price before the initial conversion
- LendSpark is capped at 4.99% beneficial ownership and limited to resales of 20% of daily trading volume; the company must reserve an initial 500,000 shares with its transfer agent
- Approximately 8,770,000 shares were outstanding as of September 15, 2026; the company also issues 6,000 Settlement Fee Shares
The filing
Written by AI on Nov 9, 2026, 11:43 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 08, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.