Cosmos Holdings Inc. (OTCMKTS:SSTC) Files An 8-K Other Events
ITEM 8.01 OTHER EVENTS
On January 3, 2017, the Board of Directors of Cosmos Holdings
Inc. (the Company) determined to create an advisory board and
appointed Mr. Orestes Varvitsiotes as its first member. Mr.
Varvitsiotes is a registered broker dealer who is currently
engaged with Aegis Capital Corp. In connection therewith, the
Company entered into an Advisory Board Member Consulting
Agreement, dated as of January 3, 2017 (the Agreement) with Mr.
Varvitsiotes that provides the following:
Mr. Varvitsiotes shall provide consulting services to the
Company, including, but not limited to, attending annual
Advisory Board meetings, and on an on-call basis during
normal business hours.
An annual issuance of 120,000 options, exercisable at $.20
per share for a period of five years (the Options)
Reimbursement of expenses incurred in connection with his
services to the Company.
The Agreement provides that the compensation paid to Mr.
Varvitsiotes may be adjusted in the event the Company retains
any other member of the Advisory Board and compensates such
member in an amount greater than what Mr. Varvitsiotes is
entitled to under the Agreement, which may include an
adjustment to the terms of the Options.
The Agreement is for a period of one year but is terminable
by either party upon ten days prior written notice by either
The Agreement provides for certain non-competition and
non-interference provisions by Mr. Varvitsiotes.
The foregoing description of Agreement is only a summary, does
not purport to be complete and is qualified in its entirety by
reference to the full text of the agreement, which is attached
hereto as Exhibit 10.1 and incorporated herein by reference.
ITEM9.01.FINANCIAL STATEMENTS AND
Advisory Board Member Consulting Agreement, dated as of
January 3, 2017, by and between Cosmos Holdings Inc. and
About Cosmos Holdings Inc. (OTCMKTS:SSTC)
Cosmos Group Holdings Inc., formerly Safe and Secure TV Channel, Inc., is a development-stage company. The Company is seeking business opportunities. The Company does not offer any products and services. The Company has not generated any revenue. Cosmos Holdings Inc. (OTCMKTS:SSTC) Recent Trading Information
Cosmos Holdings Inc. (OTCMKTS:SSTC) closed its last trading session at 1.00 with 792 shares trading hands.