CIPHERLOC CORPORATION (OTCMKTS:CLOK) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a RegistrantItem 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
On September 28, 2017, the Company entered into the following agreements with Firstfire Global Opportunities Fund LLC
1. A Convertible Promissory Note in the amount of $330,000 payable in six months and convertible into common shares at $2.00 per share at the Holder’s option.
| 2. | A Warrant Agreement wherein Firstfire Global Opportunities Fund LLC may purchase up to 165,000 shares of common stock of the company for $4.50 pershare with an expiration date two yesrser the date of the Warrant Agreement. |
| 3. | A Stock Purchase Agreement setting forth the details of above stated agreements |
Section 5 – Corporate Governance and Management
Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On October 18, 2017, the Company received a letter of resignation from Michael Salas Vice President of marketing and sales, with an effective date of October 27, 2017.
Item 9.01 Financial Statements and Exhibits
CIPHERLOC Corp ExhibitEX-10.27 2 ex10-27.htm Exhibit 10.27 NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,…To view the full exhibit click here
About CIPHERLOC CORPORATION (OTCMKTS:CLOK)
Cipherloc Corporation is a technology and services based solutions company operating in the cloud-based cyber security industry. The Company offers an encryption technology with over five international patents, called CipherLoc. CipherLoc is a commercially viable polymorphic key progression algorithmic cipher engine (PKPA). This morphing cipher can be used in commercial data security industry and/or in sensitive applications, including banks, financial transactions, credit cards, securities, stock and bonds transactions, e-mail, phones, tablets, servers and or computers. This PKPA Engine eliminates replay attacks because the cipher morphs over time. CipherLoc also rejects data access and injection, false commands, and data alteration. CipherLoc is a facet of a layered defense in depth protection plan for any organization. The CipherLoc Polymorphic Cipher Engine provides an electronic gate that restricts access to vital assets, production facilities, and distribution systems.