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BIXT Bioxytran

Filed: 7 Jun 21, 3:31pm

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): May 2, 2021

 

BIOXYTRAN, INC.

(Exact Name if Business Issuer as specified in its Charter)

  

Nevada 001-35027 26-2797630
(State or other Jurisdiction
of Incorporation)
 (Commission File Number) (IRS Employer
Identification Number)

  

75, Second Avenue, 
Suite 605

Needham MA, 02494

(Address of principal executive offices, including zip code)

 

(617) 494-1199

(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 the registrant under any of the following provisions (see General Instruction A.2. below):

 

 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 Soliciting material pursuant to Rule 1 4a- 12 under the Exchange Act (17 CFR 240.1 4a- 12)

 

 Pre-commencement communications pursuant to Rule 1 4d-2(b) under the Exchange Act (17 CFR 240.1 4d-2(b))

 

 Pre-commencement communications pursuant to Rule 1 3e-4(c) under the Exchange Act (17 CFR 240.1 3e-4(c))

 

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. ☐

    

Securities registered pursuant to Section 12(b) of the Act:

 Title of each class Trading Symbol(s) Name of each exchange on which registered
     
 Common Stock, par value $0.001               BIXT OTC Expert Market
      

 

Item 1.01. Entry into a Material Definitive Agreement.

 

On May 2 and 3, 2021, Bioxytran, Inc. (the “Company”) entered into nine Convertible Note Agreements for the purchase of a total amount of $3,266,845.70 in 1-year convertible notes (the “Notes”), with an interest rate of 6% convertible at the lower of (i) a fixed price of $0.13, or (ii) 85% of the closing price of any Qualified Financing. The Notes were paid for in a combination of cash and in replacement of debt and contain provisions of a lock-up period of 180 days, as well as prepare and file with the SEC a Registration Statement on Form S-1 within a period of 60 days from issuance. The transactions here below were approved by the Company’s Board of Directors on June 4, 2021. The total Debt Discount mounted to $119,850.00, paid to a sole Placement Agent: WallachBeth Capital (Member FINRA / SIPC).

 

Name  Amount Due 

Accrued Interest

at June 1, 2021

  

Converted

Price

 

Converted

# of shares

Robert Salna (1) $1,000,000.00 $4,577.00 $  
Angelo Parravano (1)  100,000.00  458.00    
Mike Parravano (1)  65,000.00  298.00    
David Platt (2)  384,503.60  2,114.77  0.13  2,973,988
Ola Soderquist (2)  384,503.60  2,114.77  0.13  2,973,988
Mike Sheikh (2)  212,458.50  1,168.52  0.13  1,643,285
Veronika Tyukova (2)  100,380.00  552,09  0.13  776,401
Alben Sigamani (2)  20,000.00  110.00  0.13  154,463
Pharmalectin Partners LLC (3)  1,000,000.00  4,577.00    
  $3,266,845.70 $15,418.06     8,522,355

 

(1)    Paid for in exchange of cash ($1,165,000.00).
(2)    Paid for by amounts due, in reliance on an exemption under Section 4(2)(a) ($1,101,845.70) – The notes were converted into Common Stock on June 4, 2021.
(3)    Paid for by returning the convertible notes here below ($1,000,000);

 

Debtor Date of
Issuance
  Principal
Amount
  Default Penalty  Warrants Issued  Term  Exercise
Price
  Amortization
of Warrants
  Accrued Interest 
GS Capital  10/30/2019  $125,000  $65,808   50,000   5  $2.00  $23,867  $53,645 
Power Up #1  10/24/2019   106,000   114,224               58,535 
Peak One  10/23/2019   120,000   36,000   50,000   5   2.00   21,606   31,542 
Tangiers  10/23/2019   106,300   48.261   50,000   5   2.00   21,116   35,351 
FirstFire  11/20/2019   125,000   65,541   50,000   5   2.00   17,979   53,395 
Power Up #2  12/30/2019   54,600   57,185               28,917 
EMA Financial  01/10/2020   125,000   135,158   50,000   5   2.00   5,948   71,464 
Crown Bridge  02/20/2020   55,000   28,015   22,000   5   2.00   6,763   14,331 
Power Up #3  02/19/2020   56,600   58,039               29,049 
Power Up #4  03/18/2020   64,900   65,725               32,693 
      $938,400  $673,956   272,000          $97,279  $408,924 

 

The debt originating from a January 20, 2021 summary judgement by the Supreme Court of the State of New York, County of Nassau, awarding Power Up damages in the amount of $420,750 for Breach of Contact is also cancelled by this agreement.

The Notes will be cancelled while the Warrants will be transferred to the Company’s officers in lieu of interest on amounts due as at May 31, 2021.

 

Item 3.02 Unregistered Sales of Equity Securities

 

The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

 

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Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit  
Number Description
10.58 Form of Convertible Note Agreement between Note Holders and Bioxytran, Inc., dated May 2 and 3, 2021.
   
  2 

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  

 By:/s/ David Platt
 Name:Dr. David Platt
 Title:President and Chief Executive Officer
  
 

Dated:  June 7, 2021

 

 

 

 

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