Current Report Filing (8-k)
June 14 2018 - 1:08PM
Edgar (US Regulatory)
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): June 12, 2018
BOSTON
THERAPEUTICS, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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000-54586
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27-0801073
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(State
or Other Jurisdiction of Incorporation)
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(Commission
File Number)
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(IRS
Employer Identification Number)
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354
Merrimack Street, #4, Lawrence, MA 01843
(Address
of principal executive offices) (zip code)
(603)
935-9799
(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 (see General Instruction A.2. below):
☐ 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))
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.
☐
Item
1.01
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Entry
into a Material Definitive Agreement.
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Item
2.03
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Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
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On
June 12, 2018, Boston Therapeutics, Inc. (the “Company”) received a short-term loan in the aggregate principal amount
of $100,000 from World Technology East II Limited (“WTE2”). WTE2 is a Hong Kong company owned equally by Carl W. Rausch,
the Company’s CEO and a director, and Conroy Chi-Heng Cheng, a director of the Company.
To
evidence the loan, the Company issued WTE2 a promissory note (the “WTE2 Note”) in the aggregate principal amount of
$100,000. The WTE2 Note is an unsecured obligation of the Company and is not convertible into equity securities of the Company.
Principal and interest under the WTE2 Note is due and payable June 12, 2019, however, in the event that the Company raises in
excess of $1,000,000 in equity financing, then the Company will use part of its proceeds to pay off the WTE2 Note. Interest accrues
on the WTE2 Note at the rate of 10.0% per annum. The WTE2 Note contains terms and events of default customary for similar transactions.
The Company is using the net proceeds from the transaction for general business and working capital purposes.
The
description of the terms and conditions of the WTE2 Note does not purport to be complete and is qualified in its entirety by the
full text of the form of the WTE2 Note, which is filed as an exhibit to this Form 8-K.
Item
9.01
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Financial
Statements and Exhibits
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(c)
Exhibits
Exhibit
No. Description of Exhibit
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.
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BOSTON THERAPEUTICS, INC.
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Date:
June 14, 2018
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By:
/s/ Carl W. Rausch
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Name: Carl W. Rausch
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Title: Chief Executive Officer
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