Securities And Exchange Commission
Washington, DC 20549
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 23, 2021|
(Exact Name of Registrant as Specified in Charter)
(State or Other Jurisdiction
1206 E. Warner Road, Suite 101-l, Gilbert, AZ 85296
(Address of Principal Executive Offices) (Zip Code)
(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:
|☐||Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)|
|☐||Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))|
|☐||Pre-commencement 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|
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 ☐
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. ☐
|Item 1.01||Entry into a Material Definitive Agreement|
On March 23, 2021, Chee Corp., a Nevada corporation (the “Company”), advanced the amount of $500,000 to Klusman Family Holdings, LLC (“KFH”). The obligation to repay the advance was evidenced by a Promissory Note payable by KFH to the Company. The note matures on June 30, 2021, is unsecured, bears interest at a rate of 10% per annum, and the unpaid principal and interest may be accelerated upon an event of default as defined thereunder. The proceeds of the advance are to be used by KFH toward the purchase of real property located in Gilbert, Arizona. Aaron Klusman is the sole member of KFH. Mr. Klusman is also Chief Executive Officer and Chairman of the Board of the Company.
The information set forth in Item 2.03 is incorporated by reference into this Item 1.01.
The descriptions of the promissory notes are only summaries of the material terms of the notes, do not purport to be complete descriptions of the notes, and are qualified in their entirety by reference to the notes, copies of which are filed as Exhibits 10.1 and 10.2 and incorporated herein by reference.
|Item 2.03||Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant|
On March 25, 2021, the Company executed a Promissory Note payable to Farm House Partners, LLC (“Farm House”), as lender, pursuant to which the Company borrowed $90,000. The note matures on September 30, 2021, is unsecured, bears interest at a rate of 10% per annum, and the unpaid principal may be accelerated upon an event of default as defined thereunder. Farm House is the holder of a majority of common stock of the Company and Michael Witherill, the Company’s Vice-Chair, is the manager of Farm House.
|Item 9.01||Financial Statements and Exhibits.|
|10.1||Promissory Note payable by Klusman Family Holdings, LLC to Chee Corp.|
|10.2||Promissory Note payable by Chee Corp. to Farm House Partners, LLC|
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: April 15, 2021
Chee Corp., a Nevada corporation
By: /s/ Rick Gean
Rick Gean, CFO, Secretary, and Treasurer