Docoh
Loading...

BANT Bantec

 

 

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): April 20, 2020

 

Bantec, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware 000-55789 30-0967943
(state or other jurisdiction
of incorporation)
 (Commission File Number) (IRS Employer
Identification Number)

 

195 Paterson Avenue, Little Falls, NJ 07424

(address of principal executive offices) (zip code)

  

___________(203) 220-2296________________

(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 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
Common Stock BANT OTC

  

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 April 20, 2020, Bantec, Inc. (the “Company”) entered into a convertible promissory note withGeneva Roth Remark Holdings, Inc. (“Lender”) in the principal amount of $60,000, (the “April 20, 2020 Note”). The April 20, 2020 Note carries interest at the rate of 10%, matures on April 20, 2021, and is convertible into shares of the Company’s common stock, par value $0.0001, at the Lender’s election, after 180 days, at a 42% discount, provided that the Lender may not own greater than 4.99% of the Company’s common stock at any time.

 

The foregoing is a summary of the terms of the April 20, 2020 Note and is qualified in its entirety by the April 20, 2020 Note attached hereto and incorporated herein as Exhibit 10.1.

  

Item 9.01Financial Statements and Exhibits.

 

(d) Exhibits: The following exhibits are filed with this report:

 

Exhibit No. Description
10.1 April 20, 2020 Convertible Promissory Note with Geneva Roth Remark Holdings, Inc.

 

1

 

 

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.

 

Date: April 24, 2020Bantec, Inc.
   
 By:/s/ Michael Bannon
  Name: Michael Bannon
  Title: President and CEO

  

 

2