USBC, Inc 8-K/A, filed Nov 12, 2021
USBC, Inc. (USBC)
About this 8-K/A
USBC, Inc filed this 8-K/A on November 12, 2021, reporting on events of November 8, 2021.
Items reported
- Item 3.02: Unregistered sale of equity
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.20549
FORM
(Amendment No. 7)
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter) |
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(State of other jurisdiction |
| (Commission |
| (IRS Employer |
of incorporation) |
| File Number) |
| Identification No.) |
(Address of principal executive office)
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(Registrant's telephone number, including area code)
____________________________________________________________
(Former name, former address and former fiscal year, if changed since last report)
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):
Securities registered pursuant to Section 12(b) of the Act: None
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.
This Amendment is qualified in its entirety by reference to the complete terms and conditions of the Amendments which are attached to this Current Report on Form 8-K as Exhibit 10.1-10.4, and incorporated by reference into this Item 3.02.
Item 3.02 Unregistered Sales of Equity Securities; Item 3.03 Material Modification to Rights of Security Holders.
Senior Secured Convertible Redeemable Notes
On November 8, 2021, the Company approved the Amendments below to the senior secured convertible redeemable notes with Clayton Struve, extending the due dates to March 31, 2022.
Item 9.01 Financial Statements and Exhibits.
Exhibits.
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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.
| Registrant: KNOW LABS, INC. | |||
| By: | /s/ Ronald P. Erickson | ||
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| Ronald P. Erickson | |
| Chairman of the Board | |||
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| November 12, 2021 | |||
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EXHIBIT 10.1
AMENDMENT NO. 6 TO
10% CONVERTIBLE REDEEMABLE NOTE
DATED SEPTEMBER 30, 2016
This AMENDMENT NO. 6 TO 10% REDEEMABLE nOTE dated SEPTEMBER 30, 2016 (this “Amendment”) is made and entered into as of November 8, 2021, by and between Clayton A. Struve (the “Holder”) and Know Labs, Inc., a Nevada corporation f/k/a Visualant, Incorporated (the “Company”).
WHEREAS, the Company is a party to that certain 10% Convertible Redeemable Note dated September 30, 2016, as amended by Amendment No. 5 dated as of April 29, 2021 (as so amended, the “Note”) payable to Holder (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Note);
WHEREAS, the Note currently has a Maturity Date of September 30, 2021; and
WHEREAS, the Holder and the Company wish to amend the Note to extend the Maturity Date;
NOW, THEREFORE, in consideration of the mutual covenants, agreements, representations, and warranties contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows.
1. Amendment of Maturity Date. The Maturity Date of the Note is hereby amended to March 31, 2022.
2. No Other Changes. Except as specifically set forth in this Amendment, the terms of the Note remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.
KNOW LABS, INC.
| /s/ Ronald P. Erickson |
|
By: Ronald P. Erickson
Its: Chairman
Holder:
| /s/ Clayton A. Struve |
|
Clayton A. Struve
EXHIBIT 10.2
AMENDMENT NO. 6 TO
SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE
DATED AUGUST 14, 2017
This AMENDMENT NO. 6 TO SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE dated AUGUST 14, 2017 (this “Amendment”) is made and entered into as of November 8, 2021, by and between Clayton A. Struve (the “Holder”), and Know Labs, Inc., a Nevada corporation f/k/a Visualant, Incorporated (the “Company”).
WHEREAS, the Company is a party to that certain Senior Secured Convertible Redeemable Debenture dated August 14, 2017, as amended by Amendment No. 5 dated as of April 29, 2021 (as so amended, the “Debenture”) payable to Holder (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Debenture);
WHEREAS, the Debenture currently has a Maturity Date of September 30, 2021; and
WHEREAS, the Holder and the Company wish to amend the Debenture to extend the Maturity Date;
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows.
1. Amendment of Maturity Date. The Maturity Date of the Debenture is hereby amended to March 31, 2022.
2. No Other Changes. Except as specifically set forth in this Amendment, the terms of the Debenture remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.
Company:
KNOW LABS, INC.
| /s/ Ronald P. Erickson |
|
By: Ronald P. Erickson
Its: Chairman
Holder:
| /s/ Clayton A. Struve |
|
Clayton A. Struve
EXHIBIT 10.3
AMENDMENT NO. 6 TO
SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE
DATED DECEMBER 12, 2017
This AMENDMENT NO. 6 TO SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE dated DECEMBER 12, 2017 (this “Amendment”) is made and entered into as of November 8, 2021, by and between Clayton A. Struve (the “Holder”), and Know Labs, Inc., a Nevada corporation f/k/a Visualant, Incorporated (the “Company”).
WHEREAS, the Company is a party to that certain Senior Secured Convertible Redeemable Debenture dated December 12, 2017, as amended by Amendment No. 5 dated as of April 29, 2021 (as so amended, the “Debenture”) payable to Holder (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Debenture);
WHEREAS, the Debenture currently has a Maturity Date of September 30, 2021; and
WHEREAS, the Holder and the Company wish to amend the Debenture to extend the Maturity Date;
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows.
1. Amendment of Maturity Date. The Maturity Date of the Debenture is hereby amended to March 31, 2022.
2. No Other Changes. Except as specifically set forth in this Amendment, the terms of the Debenture remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.
Company:
KNOW LABS, INC.
By: Ronald P. Erickson
By: Ronald P. Erickson
Its: Chairman
Holder:
| /s/ Clayton A. Struve |
|
Clayton A. Struve
EXHIBIT 10.4
AMENDMENT NO. 5 TO
SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE
DATED FEBRUARY 28, 2018
This AMENDMENT NO. 5 TO SENIOR SECURED CONVERTIBLE REDEEMABLE DEBENTURE dated FEBRUARY 28, 2018 (this “Amendment”) is made and entered into as of November 8, 2021, by and between Clayton A. Struve (the “Holder”), and Know Labs, Inc., a Nevada corporation f/k/a Visualant, Incorporated (the “Company”).
WHEREAS, the Company is a party to that certain Senior Secured Convertible Redeemable Debenture dated February 28, 2018, as amended by Amendment No. 4 dated as of April 29, 2021 (as so amended, the “Debenture”) payable to Holder (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Debenture);
WHEREAS, the Debenture currently has a Maturity Date of September 30, 2021; and
WHEREAS, the Holder and the Company wish to amend the Debenture to extend the Maturity Date;
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows.
1. Amendment of Maturity Date. The Maturity Date of the Debenture is hereby amended to March 31, 2022.
2. No Other Changes. Except as specifically set forth in this Amendment, the terms of the Debenture remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.
Company:
KNOW LABS, INC.
By: Ronald P. Erickson
By: Ronald P. Erickson
Its: Chairman
Holder:
| /s/ Clayton A. Struve |
|
Clayton A. Struve