8-K
Webstar Technology Group Inc. (WBSR)
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): July 18, 2022
WebstarTechnology Group, Inc.
(Exactname of registrant as specified in its charter)
Commission
File Number 000-56268
| Wyoming | 37-1780261 |
|---|---|
| (State or other jurisdiction of<br><br> <br>incorporation or organization) | (I.R.S. Employer<br><br> <br>Identification No.) |
| 4231 Walnut Bend<br><br> <br>Jacksonville, Florida 32257 | 32257 |
| (Address of principal executive offices) | (Zip code) |
(904)312-9681
(Registrant’stelephone number, including area code)
N/A
(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 |
|---|---|---|
| None | N/A | N/A |
| ☒ | Indicate<br> by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405<br> of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | |
| --- | --- | |
| ☐ | If<br> an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying<br> 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
2^nd^Amended and Restated Technology Marketing and License Agreement
On July 15, 2022, the Company amended its technology marketing and license agreement with Soft Tech Development Corp. The material changes to the existing agreement are as follows:
Change Item 1., License
- to make the license exclusive
- to grant the Company a Right-of-First Refusal to acquire future exclusive marketing license for new technologies
- to remove Company’s option to broker and split proceeds on sale of Soft Tech’s technology
Change Item 12, Termination
-to give Licensor (Soft Tech) right to terminate the agreement upon:
| -<br> change in executive management of Company |
|---|
| -<br> sale of majority interest in Company to 3^rd^ party |
| -<br> there is a Change of Control in the Company |
Item9.01. Financial Statements and Exhibits
(d)Exhibits
| 10.4* | 2^nd^Amended and Restated Technology Marketing and License Agreement |
|---|---|
| 104 | Cover<br> Page Interactive Data File (embedded within the Inline XBRL document) |
*Filed herewith
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.
| Dated:<br> July 18, 2022 | By: | /s/ Harold E. Hutchins |
|---|---|---|
| Harold<br> E. Hutchins | ||
| Chief<br> Financial Officer | ||
| (principal<br> financial and accounting officer) |
Exhibit 10.4
