HYPERSOLAR, INC. (OTCMKTS:HYSR) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities.
As previously reported, Hypersolar, Inc. (the “Company”) entered into agreements to which it issued convertible notes to various accredited investors which notes are convertible into shares of the Company’s common stock on the terms and conditions set forth in the various agreements. Between January 23, 2019 and February 11, 2019, holders of the convertible promissory notes converted partial principal and interest into an aggregate of 46,532,700 shares of the Company’s common stock.
The securities above were offered and sold to an exemption from the registration requirements under Section 4(a)(2) of the Securities Act since, among other things, the transactions did not involve a public offering.
About HYPERSOLAR, INC. (OTCMKTS:HYSR)
Hypersolar, Inc. is engaged in developing a solar-powered particle system that mimics photosynthesis to separate hydrogen from water. The Company intends for technology of this system to be licensed for the production of renewable hydrogen to produce renewable electricity and hydrogen for fuel cells. The Company is focused on developing a submersible hydrogen production particle that can split water molecules under the sun, emulating the functions of photosynthesis. Each particle is a complete hydrogen generator that contains a high voltage solar cell bonded to chemical catalysts by an encapsulation coating. The Company is developing a modular system that enables the daily production and storage of hydrogen for any time use in electricity generation, oil and gas refining, fertilizer manufacturing or any other applications of hydrogen. The Company’s technology is HyperSolar H2Generator. The Company has not generated any revenues.