APPLIED ENERGETICS, INC. (OTCMKTS:AERG) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities.
Effective November 5, 2020, the company and the holders agreed to convert all outstanding principal and interest on its 10% Promissory Notes which were disclosed in Items 2.03 and 3.02 of its Current Report on Form 8-K filed with the Securities and Exchange Commission on September 3, 2020, into shares of the company’s common stock, par value, $0.001 per share. The notes were converted at a price per share of $0.30, resulting in the issuance to the noteholders of 18,386,174 shares in the aggregate. All of these converting noteholders are accredited, sophisticated investors, and neither the issuance of the notes nor their conversion were in connection with any public offering in accordance with Section 4(a)(2) of the Securities Act of 1933.
Item 8.01 Other Events – Repayment of Debt.
As of November 5, 2020, the company repaid all principal of $390,000, plus interest thereon, remaining outstanding on its 10% Promissory Notes from 2019.
With the repayment of these notes, coupled with the conversion of its 10% Promissory Notes as discussed in Item 3.02 of this Form 8-K, the company has now repaid or converted all of its outstanding investor debt. In addition, with the conversion of notes into the 18,386,174 shares, as noted in Item 3.02 hereof, and the return or retirement of 46 million shares, the company now has approximately 191 million shares of common stock outstanding.
Item 9.01 Exhibits
| 99.1 | Press Release, dated as of November 12, 2020, pertaining to the matters set forth in this Current Report on Form 8-K. |
APPLIED ENERGETICS, INC. Exhibit
EX-99.1 2 ea129740ex99-1_applied.htm PRESS RELEASE,…
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About APPLIED ENERGETICS, INC. (OTCMKTS:AERG)
Applied Energetics, Inc. is a shell company. The Company focuses on reactivating its previous business activities. The Company was engaged in the design, development and manufacture of applied energy systems for military and commercial applications and ultra-short pulse lasers and high voltage lasers for commercial applications. The Company is seeking to sell or license its technology. The Company is focusing on developing ultra-short pulse lasers (UPS). It is preparing for the next stage of laser guided energy (LGE) development that involves the development of USP laser technologies. These lasers will allow for LGE weapon systems to be mounted on mobile platforms for multiple anti-terrorist missions, including counter measures against drones and other hostile inbound objects, counter-improvised explosive devices (C-IED) and vehicle stopping, among others.