Perfect Moment Ltd. 8-K

What Happened

• Perfect Moment Ltd. filed an 8-K (Item 1.01) disclosing that Chairman Max Gottschalk, who previously lent the company working capital, and the company entered into a Second Further Amended and Restated Promissory Note on March 20, 2026. The amendment pushes the maturity date of the previously amended note to March 31, 2026.
• These loans originally began on August 26, 2025 and are evidenced by two unsecured promissory notes that provided a total of $5,089,960 in funding to the company.

Key Details

• Total loans from Chairman Max Gottschalk: $5,089,960 (originally extended Aug 26, 2025).
• Note composition: one note for $3,389,960 (12% annual interest, interest payable monthly) and a second note for $1,700,000 (12% annual interest, interest payable monthly).
• Recent amendment history: Note #1 maturity was extended from Nov 8, 2025 → Mar 9, 2026 (Amended & Restated Note) → Mar 23, 2026 (Further Amended & Restated Note) → Mar 31, 2026 (Second Further Amended & Restated Note filed as Exhibit 4.1).
• The notes are unsecured; unpaid principal and accrued interest remain obligations of the company.

Why It Matters

• For investors, the filing highlights the company’s near-term reliance on related-party loans for working capital and inventory purchases. The March 31, 2026 maturity establishes a short-term cash obligation that the company must pay, refinance, or further amend.
• The 12% interest rate increases the cost of borrowing, which can affect cash flow and profitability until the obligation is resolved. The full terms of the amendment are included in the Exhibit referenced in the filing for investors who want the complete details.