Item 1.01Entry into a Material Definitive Agreement
On
Item 3.02Unregistered Sales of
The relevant information in Item 1.01 on this Current Report on Form 8-K, regarding the SPA, is incorporated herein by reference. The Shares are not registered under the Securities Act of 1933, as amended (the "Securities Act") but qualified for exemption under Section 4(a)(2) and/or Regulation D of the Securities Act. The Shares are exempt from registration under Section 4(a)(2) of the Securities Act because the issuance of such securities by the Company did not involve a "public offering," as defined in Section 4(a)(2) of the Securities Act, due to the insubstantial number of persons involved in the transaction manner of the issuance, and number of securities issued. The Company did not undertake an offering or issuance in which it issued a high number of securities to a high number of persons. In addition, the Investor had the necessary investment intent as required by Section 4(a)(2) of the Securities Act since he agreed to, and received, securities bearing a legend stating that such securities are restricted pursuant to Rule 144 of the Securities Act. This restriction ensures that these securities would not be immediately redistributed into the market and therefore not be part of a "public offering." Based on an analysis of the above factors, the Company has met the requirements to qualify for exemption under Section 4(a)(2) of the Securities Act.
Item. 9.01Financial Statements and Exhibits.
(d) Exhibits Exhibit No.: Description: 10.1# Form of Stock Purchase Agreement, datedOctober 25, 2021 104 Inline XBRL for the cover page of this Current Report on Form 8-K
#Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of
the Regulation S-K.
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