8-K
Hypha Labs, Inc. (FUNI)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM8-K
CURRENTREPORT
Pursuantto Section 13 or 15(d) of theSecurities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 25, 2021
Digipath,Inc.
(Exact name of registrant as specified in charter)
| Nevada | 000-54239 | 27-3601979 |
|---|---|---|
| (State<br> or other Jurisdiction of Incorporation or Organization) | (Commission<br> <br><br>File Number) | (IRS<br> Employer <br><br>Identification No.) |
| 6450 Cameron Street, Suite 113 Las Vegas, NV | 89118 | |
| --- | --- | |
| (Address<br> of principal executive offices) | (zip<br> code) |
(702) 527-2060
(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 registrant under any of the following provisions:
| [ ] | Written<br>communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| [ ] | Soliciting<br>material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) |
| [ ] | Pre-commencement<br>communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement<br>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:
| Title 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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company [X]
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. [ ]
Item5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangementsof Certain Officers.
Board Compensation
On March 25, 2021, the Board of Directors of Digipath, Inc. (the “Company”), approved changes to the compensation arrangements for each of Edmond A. DeFrank and Dennis Hartmann for serving as directors of the Company, as follows:
| ● | Effective<br> April 1, 2021, annual compensation is increased from $18,000 to $30,000, payable in quarterly<br> installments of $7,500 each; and |
|---|---|
| ● | Such<br> compensation may now be paid in shares of common stock of the Company instead of cash,<br> at the discretion of the Company. |
| --- | --- |
In connection with the foregoing, the Board of Directors of the Company also approved changes to the compensation arrangements for Bruce Raben for serving as the Company’s Chairman of the Board, as follows:
| ● | Effective<br> April 1, 2021, annual compensation has been increased from $30,000 to $60,000, payable<br> in quarterly installments of $15,000 each; and |
|---|---|
| ● | Such<br> compensation may now be paid in shares of common stock of the Company instead of cash,<br> at the discretion of the Company. |
| --- | --- |
On March 25, 2021, the Board also approved the issuance of 200,000 shares of Common Stock as a bonus to each of Edmond A. DeFrank, Dennis Hartmann and Bruce Raben.
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:<br> March 31, 2021 | |
| By: | /s/ Todd Peterson |
| Todd Peterson | |
| Chief Financial Officer |