Current Report Filing (8-k)
September 14 2018 - 6:06AM
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): September 11, 2018
Drone USA, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
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000-55789
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30-0967943
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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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16
Hamilton Street, West Haven, CT 06516
(address
of principal executive offices) (zip code)
(203) 220-2296
(registrant’s
telephone number, including area code)
(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 (see General Instruction A.2. below):
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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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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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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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 1.02 Termination of a Material Definitive
Agreement.
On
September 11, 2018, Power Up Lending Group, Ltd. (“Power Up”) issued a conversion notice to convert the remainder of
the $53,000 convertible note dated March 5, 2018 (the “Note”), into 19,875,000 shares of the registrant’s common
stock. Following this conversion of the Note, the balance owed on this Note is $0, and as such, it will be cancelled and returned
to the registrant as paid in full.
Item 8.01 Other
Events.
At this time, the
registrant does not expect or intend to engage in a reverse stock split.
Safe Harbor
This release may
contain certain forward-looking statements regarding our prospective performance and strategies within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking
statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation
Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions. Forward-looking statements, which
are based on certain assumptions and describe future plans, strategies, and expectations of our company, are generally identified
by use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“plan,” “project,” “seek,” “strive,” “try,” or future or conditional
verbs such as “could,” “may,” “should,” “will,” “would,” or similar
expressions. Our ability to predict results or the actual effects of our plans or strategies is inherently uncertain. Accordingly,
actual results may differ materially from anticipated results. Some of the factors that could cause our actual results to differ
from our expectations or beliefs include, without limitation, the risks discussed from time to time in our filings with the Securities
and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only
as of the date of this release. Except as required by applicable law or regulation, we undertake no obligation to update these
forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.
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.
Date: September 14, 2018
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Drone USA, Inc.
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By:
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/s/
Michael Bannon
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Name: Michael Bannon
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Title: President and CEO
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