UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 5, 2022 (
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(Exact name of registrant as specified in its charter)
Commission File Number:
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(State or other jurisdiction of incorporation) |
(IRS Employer Identification No.) |
(Address of principal executive offices, including zip code)
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(Registrant’s telephone number, including area code)
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:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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:
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Title of each class |
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Trading Symbol(s) |
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Name of each exchange on which registered |
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OTC Markets Group Inc. |
Indicate by check mark whether the registrant is an emerging growth company as defined in 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. ☐
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Item 3.02 |
Unregistered Sales of Equity Securities. |
On March 31, 2022, Simply Mac, Inc. (“Simply Mac”), a wholly owned subsidiary of Simply, Inc. (the “Company”), entered into an account payable settlement agreement (the “Settlement Agreement”) with two of Simply Mac’s vendors to convert the outstanding account payable balances owed by Simply Mac to the vendors into shares of common stock (the “Equity Securities”) of the Company at a conversion price of $1.40 per share. The aggregate amount of outstanding account payable balances owed to the vendors was $3,191,489, which amount was converted into 2,279,635 Equity Securities of the Company. The Equity Securities will be issued within five (5) business days following the execution of the Account Payable Settlement Agreement.
The issuance of Equity Securities pursuant to the Settlement Agreement was made in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended.
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Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits.
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Exhibit |
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Description |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Signature
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.
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Simply, Inc. |
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Date: |
April 5, 2022 |
By: |
/s/ Vernon A. LoForti |
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Vernon A. LoForti |
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Chief Financial Officer |