ATIS Attis Industries Inc

Item 1.01. Entry into a Material Definitive Agreement.

On August 16, 2019, Attis Industries Inc. (the “Company”), and certain of its affiliates, entered into a Modification and Forbearance Agreement (the “Modification Agreement”) with Highscore Capital LLC (“Highscore”). Under the Modification Agreement, Highscore agreed to forbear from taking any action with respect to any defaults by the Company that may have occurred under the Loan and Security Agreement dated as of May 31, 2019 (the “Loan Agreement”) until August 31, 2019. Pursuant to the Modification Agreement, the Company increased the principal amount under the Loan Agreement by $1,500,000.00 (the “Principal Adjustment”) and is required to pay a fee of $25,000 per week until such date as all amounts payable under the Loan Agreement are paid.

In addition, at any time following the date on which the Company has filed with the Securities Exchange Commission its Quarterly Report on Form 10-Q for the period ended June 30, 2019, Highscore may elect, in its sole and absolute discretion, to require payment of the Principal Adjustment in cash (as originally provided in the Agreement) or to accept, in lieu of cash payment, a number of shares of the Company’s common stock (the “Adjustment Shares”) equal to the quotient obtained by dividing $1,500,000.00 by a price of $1.75 per share; provided that if Attis Ethanol Fulton, LLC intends to pay the Loan Agreement in full prior to the date it matures, Highscore would be provided notice such that it could elect to receive the Adjustment Shares as set forth above, to the extent permitted.

The foregoing description of the Modification Agreement is qualified in its entirety by reference to the text of the Modification Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.