Current Report Filing (8-k)
January 24 2020 - 04:11PM
Edgar (US Regulatory)
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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): January 17,
2020
CLOUDCOMMERCE, INC.
(Exact name of registrant as specified in its charter)
Nevada |
000-13215 |
30-0050402 |
(State or other jurisdiction of incorporation
or organization)
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(Commission
File Number) |
IRS
Employer Identification No.) |
321 Sixth Street
San Antonio, TX
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78215 |
(Address
of Principal Executive Offices) |
(Zip
Code) |
(805) 964-3313
(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:
¨ Written communications
pursuant to Rule 425 under the Securities Act
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act
¨ 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:
Tile
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 3.02 Unregistered Sales of Equity Securities.
As previously reported, CloudCommerce, Inc. (the “Company”) entered
into securities purchase agreements pursuant to which it issued
convertible notes to various accredited investors, which notes are
convertible into shares of the Company’s common stock on the terms
and subject to the conditions set forth in the various securities
purchase agreements and associated notes. Certain accredited
investors converted an aggregate of $3,934.80 in interest and fees
resulting in the issuance of an aggregate of 4,300,327 shares of
common stock.
The information below in Item 5.02 is incorporated herein by
reference in response to this Item 3.02. CloudCommerce, Inc. (the
“Company”) relied upon an exemption from the registration
requirements under Section 4(a)(2) of the Securities Act of 1933,
as amended, in connection with the issuance of the options
referenced in Item 5.02.
Item 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On January 17, 2020, the Board of Directors of the Company approved
the issuance of an aggregate of 300,000,000 options to purchase the
Company’s common stock to key employees (the “Options”). The
Options vest equally over a period of thirty-six months, have an
exercise price of $0.0019 per share, and expire five years from the
effective date. The vested Options are exercisable any time after
January 17, 2021. An aggregate of 283,000,000 Options were granted
to members of the Board and other key employees of the Company. The
Options granted to the members of the Board included 50,000,000
Options to Gregory Boden, a director and Chief Financial Officer of
the Company, 10,000,000 Options to Kevin Myers, a director of the
Company, and 50,000,000 Options to Andrew Van Noy, a director and
Chief Executive Officer of the Company.
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 thereunto duly authorized.
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CLOUDCOMMERCE,
INC. |
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Date:
January 24, 2020 |
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By: |
/s/ Andrew Van
Noy |
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Name:
Andrew Van Noy |
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Title: Chief Executive Officer
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