SHARING SERVICES, INC. (OTCMKTS:SHRV) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
On June 20, 2017, Sharing Services, Inc. (the Company) closed a financing transaction whereby the Company borrowed the sum of Thirty-eight Thousand dollars ($38,000.00) from an accredited investor, Power Up Lending Group Ltd. (the Lender). The transaction involved (i) the issuance by the Company in favor of the Lender of a Convertible Promissory Note (the Note) in the principal amount of $38,000.00 and (ii) the entering into of a Securities Purchase Agreement by the Company and the Lender (the SPA). The Note accrues interest at the rate of Twelve percent (12%) per annum with the principal amount and all accrued interest being due and payable on March 20, 2018. At the option of the Lender, the Note is convertible into shares of the Companys common stock at any time following 180 days from its issuance. The foregoing description of the Note and the accompanying SPA, both dated June 20, 2017, is a summary only and is qualified in its entirety by the full text of the Note and SPA, which are filed as Exhibits 1.1 and 1.2 hereto, respectively, and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number
Description
Location
1.1
Convertible Promissory Note dated June 20, 2017 issued
Provided herewith
by Sharing Services, Inc., in favor of Power Up Lending
Group Ltd., in the principal amount of Thirty-eight
Thousand dollars ($38,000.00).
1.2
Securities Purchase Agreement dated June 20, 2017 by
Provided herewith
and between Sharing Services, Inc., and Power Up Lending
Group Ltd.
Sharing Services, Inc. ExhibitEX-1.1 2 ex1_1apg.htm EXHIBIT 1.1 EXHIBIT 1.1 EXHIBIT 1.1 NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,…To view the full exhibit click here About SHARING SERVICES, INC. (OTCMKTS:SHRV)
Sharing Services Inc, located in Khon Kaen, Thailand, is focused to market and sell the company’s taxi sharing service via a developed website. The company was incorporated on April 24, 2015.