Nocera Discloses $4.66M Collateral Seizure After Note Default
NCRA sits 25% above its 52-week low of $1.3.
Summary
Nocera's amended 10-Q discloses a July 27, 2026 default on its senior secured convertible note, resulting in $4.66 million of collateral being seized and $1.37 million still asserted as owed.
Key Events · Legal and Risk Events · NCRA
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Note Default and Collateral Seizure
On July 27, 2026, the note holder declared a default over unpaid alternate conversion floor amounts. The collateral agent applied $4,658,686 from the blocked custodial account toward the note obligations.
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Remaining Asserted Obligation
Following the collateral application, the investor asserts approximately $1,370,809 remains outstanding under the note. Nocera is in discussions regarding a potential waiver, but no definitive agreement has been reached.
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Liquidity Impact
The collateral seizure reduced Nocera's cash resources and financial flexibility. As of June 30, 2026, cash and cash equivalents were $4,792,297, down from $7,952,180 at December 31, 2025.
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Going Concern and Nasdaq Risk
The default compounds existing going-concern doubts and Nasdaq listing deficiencies previously disclosed. Nocera's stockholders' equity was $(440,735) at December 31, 2025, below the $2.5 million Nasdaq minimum.
Analysis · NCRA · Industrial Applications And Services
The amended 10-Q reveals that on July 27, 2026, the holder of Nocera's senior secured convertible note declared a default over unpaid alternate conversion floor amounts. The collateral agent seized $4,658,686 from the blocked custodial account, and the investor asserts $1,370,809 remains outstanding. This materially reduces Nocera's cash resources and financial flexibility at a time when the company already faces going-concern doubts and Nasdaq listing deficiencies. The disclosure is new — it was not in the original August 5, 2026 10-Q or the August 17, 2026 8-K restatement announcement.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 36.5% of the 1055 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.56%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NCRA was trading at $1.63 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $3.9M. The 52-week trading range was $1.30 to $72.00. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.