Moxian, Inc. (NASDAQ:MOXC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
As previously disclosed on Form 8-K filed on June 21, 2019, Moxian, Inc. (the “Registrant”) has entered into an Agreement (the “Agreement”) with Joyful Corporation Limited (the “Investor”) a company incorporated in Samoa whereby the Investor will (a) purchase from the Company 2,000,000 shares of the Company’s Common Stock, par value $0.001 per share (the “Common Stock”) at a price of $1.25 per share (the “Purchase Price”) for aggregate gross proceeds of $2,500,000 and (b) acquire from the Company a call option (the “Option”) to purchase up to 690,000 shares of Common Stock at a price per share of $1.25, which Option will expire if not exercised on or before September 30, 2019 (together, the “Offering”). The Offering is being made in reliance on an exemption for private offerings provided to Section 4(a)(2) of the Securities Act.
The proceeds from the Offering are expected to be received by August 30, 2019 and will be used for general working capital purposes of the Company. As of the date of this report, the Company has a total of 13,471,529 outstanding shares of Common Stock. In addition, as previously disclosed, the Company has filed an application for the listing of an additional 720,000 shares of Common Stock, to agreements reached with its three loan creditors, for the conversion of their outstanding loans into equity of the Company.
Due to a mistake, the June 21, 2019 Form 8-K included an interim draft of the Subscription Agreement related to the Offering, rather than the final executed agreement.
Attached to this Form 8-K/A, as Exhibit 10.1, is the final executed Subscription Agreement.
The information included in Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 3.02.
(d) Exhibits.
| 10.1 | Subscription Agreement, dated June 20, 2019, between Moxian, Inc. and Joyful Corporation Limited |
Moxian, Inc. Exhibit
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To view the full exhibit click here
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.
