CLOQ 8-K
Cyberloq Technologies, Inc. (CLOQ)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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| OTCQB |
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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Item 1.01. Entry into a Material Definitive Agreement.
On June 3, 2023, Cyberloq Technologies, Inc., a Nevada corporation (the “Company”) issued a convertible note to one of the Company’s directors for the purchase price of $50,000 (the “Note”) The Note carries an interest rate of 12% per annum compounding monthly and matures on June 2, 2024. The Note contains a voluntary conversion mechanism whereby the noteholder may convert at any time after issuance, in whole or in part, the outstanding principal and interest under the Note into shares of the Company’s common stock at a conversion price of $0.02 per share.
Item 3.02. Unregistered Sales of Equity Securities.
The applicable information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02. The Conversion Shares were not registered under the Securities Act, but qualified for exemption under Section 4(a)(2) and/or Regulation D of the Securities Act.
Item 5.02 Compensatory Arrangements of Certain Officers.
On June 27, 2023, the Board of Directors of the Company approved revisions to the employment contract with the Company’s President, Christopher Jackson, his base salary to $120,000 per year. The base salary of the Company’s other officer remained unchanged.
Item 8.01 Other Events.
On May 8, 2023, the Company was approved by OTC Markets Group Inc. to have its shares of common stock listed for trading on the OTCQB.
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.
CYBERLOQ TECHNOLOGIES, INC. (Registrant) | ||
| By: | /s/ Christopher Jackson | |
| Christopher Jackson, President | ||
| Date: June 28, 2023 | ||