Moxian, Inc. (NASDAQ:MOXC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01.
On January 29, 2019, with the board of director’s approval, Moxian, Inc. (the “Registrant”) entered into a convertible loan agreement (the “Agreement”) with Mr. Junsheng Tang, an unrelated party, and Moxian Technologies (Beijing) Co., Ltd. (“Moxian Beijing”), the Registrant’s wholly owned subsidiary.
Under the Agreement, Mr. Tang agrees to provide for a loan of RMB 6.77 million (approximately USD 1.01 million) to Moxian Beijing in three installments: RMB 2.5 million by January 22, 2019, RMB 1.5 million by March 15, 2019, and RMB 2.77 million by June 30, 2019. The Registrant agrees to issue an interest-free unsecured promissory note (the “Note”) in the mount of RMB 6.77 million to Mr. Tang, within 7 business days from the date of the third installment. Mr. Tang has the right to convert the whole RMB 6.77 million of the Note into the Registrant’s restricted ordinary shares at the price of USD 1.00 per share, within six months from the date of the Note. Upon conversion of the Note, Mr. Tang has the right to designate a third party as the Registrant’s shareholder.
| Item 1.01. | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information included in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.
| Item 1.01. | Unregistered Sales of Equity Securities. |
The information included in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 1.01.
| Item 1.01. | Financial Statements and Exhibits. |
Moxian, Inc. Exhibit
EX-10.1 2 tv512236_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 CONVERTIBLE LOAN AGREEMENT THIS CONVERTIBLE LOAN AGREEMENT is made on January ___,…
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About Moxian, Inc. (NASDAQ:MOXC)
Moxian, Inc., formerly Moxian China, Inc. is engaged in the online-to-offline (O2O) business. The Company provides an online platform for small and medium sized enterprises (SMEs) with physical stores to conduct business online, interact with existing customers and obtain new customers. The Company refers to its customers as Merchant Clients and the users of its mobile application and platform that are the Merchant Clients’ existing customers as Users. Its products and services are designed to allow Merchant Clients to conduct targeted advertising campaigns and promotions. The version of its platform is called Moxian+, which consists of its user mobile application, Moxian+ User App and a separate application for its Merchant Clients, the Moxian+ Business App. Both versions of the application are available in the Google Play Store and the Apple application Store. The Moxian+ User App provides access to a social media platform with a package of services.
