Chairman Charlie Bass Boosts Stake to 43.6% with $400K Convertible Note and Open Market Purchases

summarizeSummary

Chairman Charlie Bass has significantly increased his beneficial ownership in Socket Mobile to 43.6% through a new $400,000 convertible note and additional open market purchases, providing crucial capital to the company.

check_boxKey Events

• Chairman Increases Beneficial Ownership to 43.6%

  Charlie Bass, Chairman of the Board, now beneficially owns 5,030,216 shares, representing 43.6% of the company's deemed outstanding common stock.

• $400,000 Convertible Note Purchase

  The Bass Trust purchased a $400,000 secured subordinated convertible promissory note on March 27, 2026, convertible into up to 444,444 shares. This follows the company's recent $500,000 note financing.

• Additional Open Market Purchases

  Mr. Bass made approximately $110,286 in open market purchases of common stock between November 2025 and February 2026.

auto_awesomeAnalysis

This Schedule 13D/A filing details a substantial increase in Chairman Charlie Bass's beneficial ownership, now standing at 43.6% of Socket Mobile. This includes a new $400,000 secured subordinated convertible note purchased on March 27, 2026, which is convertible into 444,444 shares. This investment, combined with approximately $110,286 in open market purchases since November 2025, represents a significant capital injection and a strong vote of confidence from the Chairman, especially following the company's recent disclosure of a 20% revenue decline and ongoing financial challenges. The filing also consolidates his total beneficial ownership, including previous convertible notes and options, providing a comprehensive view of his substantial stake. This follows the 8-K and Form 4 filings on March 30, 2026, which initially disclosed the $500,000 note financing, with Bass's portion now fully detailed here.