FUNI 8-K
Hypha Labs, Inc. (FUNI)
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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Item 8.01. Other Events
On March 11, 2022, Digipath, Inc. (the “Company”) notified Evio, Inc. of the Company’s termination of the letter of intent between the Company and Evio, Inc., which had provided for the purchase by the Company of Evio’s controlling interest in C3 Labs, LLC (“C3 Labs”), a cannabis and hemp testing laboratory based in Berkeley, California.
Prior to the termination of the letter of intent, the Company had advanced C3 Labs a total of approximately $1,000,000 in secured loans. The Company is currently in possession of equipment of C3 Labs, which it is in the process of liquidating. The Company anticipates that the proceeds of such liquidation will be sufficient to repay the Company in full all amounts owed to it by C3 Labs.
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.
| Digipath, Inc. | ||
| Date: March 25, 2022 | ||
| By: | /s/ A. Stone Douglass | |
| A. Stone Douglass | ||
| Chief Financial Officer | ||