Current Report Filing (8-k)
09 Janeiro 2023 - 6:07PM
Edgar (US Regulatory)
0001519177
false
0001519177
2022-11-03
2022-11-03
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (date of earliest event reported): November 3, 2022
SOLLENSYS
CORP
(Exact
name of registrant as specified in its charter)
Nevada |
|
000-56448 |
|
80-0651816 |
(State or other jurisdiction
of incorporation) |
|
(Commission
File
Number) |
|
(I.R.S.
Employer
Identification
No.) |
1470
Treeland Blvd. SE
Palm
Bay, Florida 32909
(Address
of Principal Executive Offices) (Zip Code)
Registrant’s
telephone number, including area code: (866) 438-7657
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
N/A |
|
N/A |
|
N/A |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
1.01. Entry into a Material Definitive Agreement.
On
November 3, 2022, Sollensys Corp (the “Company”) entered into a Commercial Contract (the “Sale Agreement”), by
and between the Company and EML Realty Partners, LLC (“EML”), pursuant to which the Company agreed to sell, and EML agreed
to purchase, upon the terms and conditions set forth in the Sale Agreement, the Company’s headquarters property at 1470 Treeland
Boulevard SE, Palm Bay, Florida (the “Property”). Pursuant to the terms of the Sale Agreement, EML agreed to pay to the Company
$3,850,000 in exchange for the Property. The Sale Agreement was subject to a 30-day due diligence period and contained customary representations,
warranties, and conditions.
The
sale of the Property closed on January 4, 2023.
In
connection with the sale of the Property, the parties also agreed to enter into a five-year office lease (“Lease”) after
closing, pursuant to which EML agreed to lease to the Company the office building on the Property. In exchange, the Company agreed to
pay to EML base rent as follows:
Months | | |
Annual Base Rent | | |
Monthly Base Rent | |
1-12 | | |
$ | 308,000.00 | | |
$ | 25,666.67 | |
13-24 | | |
$ | 317,240.00 | | |
$ | 26,436.67 | |
25-36 | | |
$ | 326,757.20 | | |
$ | 27,229.77 | |
37-48 | | |
$ | 336,559.92 | | |
$ | 28,046.66 | |
49-60 | | |
$ | 346,656.72 | | |
$ | 28,888.06 | |
The
Company and EML entered into the Lease on January 4, 2023. In connection with entry into the Lease, and pursuant to the terms thereof,
the Company delivered to EML a personal guaranty by Donald Beavers, the Company’s Chief Executive Officer and a member of the Company’s
Board of Directors.
The
foregoing description of the Sale Agreement and the Lease does not purport to be complete and is qualified in its entirety by the actual
Sale Agreement and the Lease, copies of which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and incorporated
herein by reference.
Item
8.01. Other Events.
The
sale of the Property closed on January 4, 2023.
Item
9.01. Financial Statements and Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
Sollensys
Corp |
|
|
|
Date: January 9, 2023 |
By: |
/s/
Donald Beavers |
|
|
Donald Beavers |
|
|
Chief Executive Officer |
Sollensys (CE) (USOTC:SOLS)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Sollensys (CE) (USOTC:SOLS)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
Notícias em tempo-real sobre Sollensys Corporation (CE) da OTCMarkets bolsa de valores: 0 artigos recentes
Mais Notícias de Sollensys Corp.