Cool Technologies, Inc. (OTCMKTS:WARM) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities.
See Item 5.02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective as of September 20, 2017, the board of directors of Cool Technologies, Inc. (the “Company”) granted warrants to purchase an aggregate of 2,250,000 of the Company’s common stock to directors and officers of the Company. Of the Warrants granted, warrants to purchase 1,250,000 shares of the Company’s common stock were granted to the Company’s non-employee directors and warrants to purchase an aggregate of 1,000,000 shares of the Company’s common stock were granted to the following named executive officers in the amounts indicated below:
|
Name |
Number of Shares issuable upon exercise of the warrant |
|
Quentin Ponder |
400,000 |
|
Chief Financial Officer and Director |
|
|
Judson Bibb |
400,000 |
|
Vice President, Secretary and Director |
|
|
Mark Hodowanec |
200,000 |
|
Chief Technical Officer |
The warrants may be exercised until September 20, 2020 and exercise price of the warrants is $0.08536. per share. The Warrants may also be exercised on a cashless basis to the formula set forth in the warrant.
The Company relied upon the exemption contained in Section 4(a)(2) of the Securities Act of 1933, as amended with regard to the issuance of the warrants.
The Board also approved the payment of $100,000 to Timothy Hassett the Company’s chief executive officer and $100,000 to Mark Hodowanec, the Company’s chief technical officer in connection with the awarding of two new patents ($50,000 for each patent) and their assignment to the Company. The payments were added to accrued but unpaid salary.
Item 9.01 Financial Statements and Exhibits.
(d) The following documents are filed as Exhibits:
|
Exhibit |
Description |
|
4.1 |
Form of Warrant |
COOL TECHNOLOGIES, INC. ExhibitEX-4.1 2 cool_ex41.htm FORM OF WARRANT cool_ex41.htmEXHIBIT 4.1 WARRANT NO. ________________ COOL TECHNOLOGIES INC. Shares WARRANT TO PURCHASE COMMON STOCK VOID AFTER 5:30 P.M.,…To view the full exhibit click here
About Cool Technologies, Inc. (OTCMKTS:WARM)
Cool Technologies, Inc., formerly HPEV, Inc., is engaged in developing and commercializing dispersion technologies in various product platforms. The Company is also engaged in developing and commercializing an electric load assist technology around which it has designed a vehicle retrofit system. Its application process is Totally Enclosed Heat Pipe Cooled technology (TEHPC). The markets for products utilizing its technology include consumer, industrial and military markets, both in the United States and across the world. Its initial target markets include those involved in moving materials and moving people, such as motors/generators, mobile auxiliary power, compressors, turbines, bearings, electric vehicles, brakes/rotors/calipers, pumps/fans, passenger vehicles, commercial vehicles, military and marine. The Company’s technologies are divided into categories, which include heat dispersion technology, mobile electric power and electric load assist. It has not generated any revenues.