TOO MUCH NOISE
Thousands of filings. Most contain nothing relevant to your book.
CREDIT INTELLIGENCE FROM SEC FILINGS ● LIVE
Know when
credit breaks.
Item 2.04 watches every 8-K, 10-Q, 10-K and NT filing on EDGAR and alerts you when a borrower takes on debt, amends or breaches a facility, gets a going-concern warning, files late, or loses its CFO or auditor. Every alert quotes the filing.
PRIMARY-SOURCE QUOTES · DIRECT EDGAR LINKS · 24/7 MONITORING
LIVE CREDIT FEED● LIVE
- ZDPY CFO departure HIGH 8-K
- PODC CFO departure HIGH 8-K
- LVO CFO departure HIGH 8-K
- ASCBF Going concern CRITICAL 10-Q
- PARA Delisting notice HIGH 8-K
- CHGA Forbearance agreement CRITICAL 8-K
- MCRI Event of default HIGH 10-Q
- — Going concern CRITICAL 10-K
- SCRH Going concern CRITICAL 10-Q
- NPLY Going concern CRITICAL 10-K
Monitoring every 8-K, 10-Q, 10-K and NT filing · Rebuilt every 15 minutes · See all recent critical events →
2,328FILINGS READLast 7 days
504CREDIT EVENTSLast 7 days
4 minutesMEDIAN FILED-TO-ALERTLast 7 days
100%SOURCE-LINKEDEvery alert
EDGAR wasn’t built for monitoring credit.
THE SIGNAL IS BURIED
A material covenant waiver might be buried in an exhibit or dozens of pages into a filing.
TIMING MATTERS
By the time an analyst discovers an event manually, someone else may already have read it.
Item 2.04 reads the filings so your analysts don’t have to.
ACTUAL ALERTREAL ALERT. REAL SOURCE. AS DELIVERED.
CRITICAL5 / 5
Filed | Detected | 9 min
ASCBF · ASPAC II Acquisition Corp.
GOING CONCERN
WHY IT MATTERS
The company holds $18,051 in cash against a net loss of $188,354 and operating cash usage of $150,065. It has no committed financing and relies on sponsor promissory notes for working capital.
SOURCE (EXCERPT)
“The Company currently has no commitments to receive such financing and there is no assurance that the Company’s plans to raise capital will be successful.”
10-Q ·
VIEW SOURCE ON EDGAR ↗
What Item 2.04 catches
16 EVENT TYPES. RULE-SCORED SEVERITY.| EVENT | BASE SEVERITY | TRIGGER |
|---|---|---|
| Event of default (Item 2.04) | 5 | Borrower discloses a default or other triggering event under a debt agreement |
| Covenant waiver | 4 | Lender waives a covenant breach or modifies terms |
| Forbearance agreement | 5 | Lender agrees not to exercise default remedies for a period |
| Going concern — substantial doubt | 5 | Auditor or management raises substantial doubt about viability |
| New credit agreement (Item 2.03) | 2 | New credit agreement, term loan, or revolving facility |
| Credit facility amendment | 2 | Amendment to an existing credit agreement |
| Late filing (NT 10-Q / NT 10-K) | 3 | Company files NT 10-Q or NT 10-K for a delayed periodic report |
| Delisting notice (Item 3.01) | 3 | Exchange issues a deficiency or delisting notice |
| Non-reliance on financials (Item 4.02) | 4 | Company says prior financials should not be relied upon |
| Auditor change (Item 4.01) | 3 | Company changes its independent auditor |
| CFO departure (Item 5.02) | 3 | CFO or principal accounting officer departs |
| Bankruptcy (Item 1.03) | 5 | Voluntary or involuntary bankruptcy petition filed |
| Material impairment (Item 2.06) | 3 | Impairment charge on goodwill, intangibles, or long-lived assets |
| Restructuring charge (Item 2.05) | 2 | Restructuring charge or plan announced |
| Liquidity warning | 4 | Management discloses material liquidity risk |
| Debt acceleration | 5 | Lender accelerates outstanding debt |
Two ways to use Item 2.04
SAME DATA. DIFFERENT ADVANTAGE.01
DISCOVER DISTRESS
Find opportunities before you were looking for them.
- Monitor the entire SEC universe
- Surface material credit events as they are filed
- Useful for distressed investors, restructuring professionals, traders and bankers
02
MONITOR YOUR BOOK
Never miss a change in a name you already care about.
- Upload a CSV of tickers or CIKs (up to 2,000 names on Team)
- Severity 3+ events on your names alert immediately; everything else lands in the 07:30 ET digest
- Severity upgrades re-alert with an UPGRADED tag
BUILT FOR CREDIT PROFESSIONALS
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- Slack integration
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Seat
$299 /month
- 1 seat
- Up to 500 watchlist names
- Slack integration
- Full alert content
Team
$799 /month
- Up to 5 recipients
- Up to 2,000 watchlist names
- Slack integration
- Full alert content
Questions
- Where does the data come from?
- Every alert is derived from public SEC filings:
8-K,10-Q,10-K, andNTforms. Item 2.04 downloads filings from EDGAR, extracts the relevant sections, and classifies them by credit-event type. Every alert quotes the filing directly and links to the source on EDGAR. - How fast are 8-K alerts?
- The median time from a filing appearing on EDGAR to your inbox, measured over the last 7 days, is 4 minutes. Processing starts within seconds of the filing appearing on EDGAR. Delivery time depends on filing length and queue depth.
- How is severity decided?
- Severity is set by rules, not by the model. Critical (5): bankruptcy, default, acceleration, forbearance, going concern. High (4): waivers, non-reliance, delisting notices, liquidity warnings. Lower severities cover new facilities, routine amendments and impairments. Every alert lists the adjustments applied under "Why this severity."
- Can I watch a list of borrowers?
- Yes. Provide a list of tickers or CIKs and Item 2.04 will alert you on any filing for those names at severity 3 and above, and include all their signals in your daily digest regardless of severity.
- What if an alert is wrong?
- Every alert is model-classified, rule-scored, quote-verified: it carries verbatim quotes from the filing and a direct link to the source on EDGAR, so you can check it in seconds. If an alert misclassifies or misrepresents a filing, reply to it or email us. Tell us when we're wrong; we investigate every report and fix the classification rules when warranted.
- How do I cancel?
- Email us or reply to any alert. Billing is monthly through Stripe; cancellation takes effect at the end of the current billing period. No refunds for partial months.