Item 8.01. Other Events

On March 11, 2022, Digipath, Inc. (the "Company") notified Evio, Inc. of the Company's termination of the letter of intent between the Company and Evio, Inc., which had provided for the purchase by the Company of Evio's controlling interest in C3 Labs, LLC ("C3 Labs"), a cannabis and hemp testing laboratory based in Berkeley, California.

Prior to the termination of the letter of intent, the Company had advanced C3 Labs a total of approximately $1,000,000 in secured loans. The Company is currently in possession of equipment of C3 Labs, which it is in the process of liquidating. The Company anticipates that the proceeds of such liquidation will be sufficient to repay the Company in full all amounts owed to it by C3 Labs.

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