Current Report Filing (8-k)
October 21 2019 - 8:13AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): October 21, 2019
FLITWAYS
TECHNOLOGY, INC.
(Exact name of registrant as specified
in its charter)
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Nevada
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000-55316
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47-2489112
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(State
of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer Identification No.)
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224 Datura Street, #1015
West Palm Beach, FL 33414
(Address of principal executive offices)
Phone: (855) 710-0915
(Registrant’s telephone number)
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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☐
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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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Securities registered pursuant to Section 12(b) of the
Act: None
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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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Securities registered
pursuant to Section 12(g) of the Act: Common Stock, par value $0.001 per share
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 2.02 Results of Operations and Financial Condition
Item 8.01 Other Events.
The company continues its rebuilding efforts post its trauma
and operational disruption . The company followers should review the 8-K filing of October 15, 2018 regarding the business operation
disruption the company endured.
The interim management has successfully negotiated a management
program with a fractional jet aviation and yacht company to assist it in restarting operations with Flitways company.
The interim management has secured non exclusive agreement through
a jet consignment arrangement which will allow the company to participate in the sale of the aircraft and to generate revenues
as it continues its rebuilding process to bring the Flit company back to full operations.
The company has leased a high value operational domain
name www.magellan1.com to carry out the business activities. The domain is approximately 15 yrs old and was previously used
by a now dormant Delaware company with previous travel type operation. It achieved a combined operational revenues of
about $2,5 million dollars and profits of about $800,000.
The company has secured a $100,000 line of credit for
financing continuing operations. This was secured post October 15, 2018 as a boat and car rental company.
The pending financing options currently underway will
enable the company to acquire exclusive jet rights and the acquisition of a yacht club membership company with several
yachts in operation.
The yachts and the jet are all debt free. Under the
restructuring program, the company would recapitalize its share structure to absorb all the acquisition costs including the
planned Delaware operational company.
The company will shortly update its share structure with
the State of Nevada including other corporate actions to reflect all of these and other pending financing actions.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 99.1 - Quarter 3 - September 30, 2019 financial statements
Exhibit 99.2 - Quarter 2 - June 30, 2019 financial statements
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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FLITWAYS TECHNOLOGY, INC.
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By:
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/s/Daniel Sobolewski
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Daniel Sobolewski
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Chief Executive Officer
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Date: October 21, 2019
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