FLASR, INC. (OTCMKTS:FLSR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement.
On June 13, 2017, the Company entered into a Settlement Agreement with Northbridge Financial, Inc. (Northbridge), whereby Northbridge acquired liabilities of the Company in an amount of $52,318.75, which was owed by the Company to various third parties related to legal services, as well as other service providers related to the Companys operations. The Company and Northbridge then entered into an Order Granting Approval of the Settlement Agreement, and Northbridge converted the Debt to a 3(a)(10) exemption into 200,000,000 shares of the Companys common stock. The conversions took place between June 15, 2017 and June 19, 2017. The shares did not extinguish all of the debt of the Company; instead, the shares issued were a third tranche toward extinguishing debt of the Company.
Item 3.02 Unregistered Sales of Equity Securities.
Reference is made to the disclosure set forth under Item 1.01 of this Current Report on Form 8-K, which disclosure is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.
None.
About FLASR, INC. (OTCMKTS:FLSR)
FLASR, Inc. sells portable waste solutions for consumers of moist tobacco products. The Company offers FLASR, which is a reusable spittoon system. FLASR is a tobacco flask made for smokeless users. It is a portable spittoon that can be used in public without the stigma that cups and other spittoons create. The Company’s offerings include Winter Camo, Speed and Champinship Bull Riding, which are made of polyethylene and feature a one-handed operation.