8-K
WASTE ENERGY CORP. (WAST)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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) March 22, 2024
METAWORKS
PLATFORMS, INC.
(Exact name of registrant as specified in its charter)
| Nevada | 000-55049 | 27-3098487 |
|---|---|---|
| (State or other jurisdiction<br><br> <br>of incorporation) | (Commission<br><br> <br>File Number) | (IRS Employer<br><br> <br>Identification No.) |
3250 Oakland Hills Court Fairfield, California 94534
(Address of principal executive offices and Zip Code)
Registrant’s
telephone number, including area code: 424.570.9446
Not applicable
(Former name or former address, 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:
| ☐ | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | 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 |
|---|---|---|
| Nil | 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 (§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. ☐
Item1.01 Entry into a Material Definitive Agreement.
Effective as of May 5, 2021, we loaned $400,000 to Fogdog Energy Solutions Inc. pursuant to convertible promissory note. The note bears interest at a rate of 4% per annum and comes due on December 31, 2024. On March 22, 2024, the company elected to convert this promissory note along with accrued interest for a total of $446,071 and now the company holds 11% equity stake in Fogdog.
Our chief financial officer, secretary and treasurer, Swapan Kakumanu, is a director, chief financial officer and a shareholder of Fogdog.
Item7.01 Regulation FD Disclosure.
A news release dated March 22, 2024 is furnished herewith.
In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this current report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Actof 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item9.01 Financial Statements and Exhibits.
| (d) | Exhibits |
|---|---|
| 99.1 | News<br> Release dated March 22, 2024 |
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document) |
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.
| METAWORKS<br> PLATFORMS, INC. |
|---|
| /s/ Scott Gallagher |
| Scott Gallagher |
| President |
| March<br> 26, 2024 |
Exhibit99.1
MetaWorksPlatforms Expands Holdings into Renewable Energy: Company Secures 11% Equity Stake in Fog Dog Energy Solutions Amid AI and BlockchainEnergy Surge
Fairfield, CA., March 22, 2024 (GLOBE NEWSWIRE) -- MetaWorks Platforms, Inc. (“MetaWorks” or the “Company”), (OTCQB: MWRK), an award-winning company that owns, operates, and develops Web3, GreenTech and AI platforms and technologies for the education, finance, entertainment & technology space, today announced that it has exercised an option to acquire an 11% stake in Green Technology company Fog Dog Energy Solutions, Inc.
Metaworks President Scott Gallagher commented on the news, “We are strong believers in the waste to energy conversion system created by the team at Fog Dog as evidenced by our more than $1.2 Million investment in the Company. The rise of technologies like AI, Blockchain and Web3 have caused a massive increase in energy needs to support these new emerging technologies.”
According to the IEA (International Energy Agency), training a single AI model consumes more energy than 100 households use in a year. Gallagher went on to say, “We look forward to working with the team at Fog Dog to deliver a carbon neutral energy solution for Blockchain, AI and other ventures that drives a profitable future for both Fog Dog and MetaWorks.”
According to the IEA, on average, large-scale AI models consume approximately 100x more compute resources that other contemporary AI models. If the trend of increasing model sizes continues at its current pace, some estimates project compute costs to surpass the entire GDP of the United States by 2037.
CompanyContact:
Scott Gallagher, President
(727) 417-7807
scott@metaworksplatforms.io
AboutMetaWorks Platforms, Inc.
MetaWorks Platforms, Inc. (OTCQB: MWRK) is an award-winning Web3 company that owns, operates and builds AI-powered blockchain, metaverse and fintech platforms in the film, fan engagement, music, payments, green tech and educational space focused on leveraging Web3 technologies and partnerships to create disruptive technology-based products, services and Companies.
For more information on MetaWorks Platforms, please visit us at www.MetaWorks.ai . For additional investor or financial information visit www.SEC.gov.