Singlepoint Inc. (OTCMKTS:SING) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On December 18, 2020, Singlepoint Inc. (the “Company”) entered a Class B Preferred Stock Purchase Agreement (the “Class B Preferred Stock Purchase Agreement”) with GHS Investments, LLC (“GHS”), whereby the Company issued GHS Four Hundred and Eight shares of Class B Convertible Preferred Stock (the “Class B Preferred Stock”) for a purchase price of Four Hundred Thousand Dollars (One Thousand Dollars per share of Class B Preferred Stock). The foregoing is subject to, and qualified in its entirety, by the Class B Preferred Stock Purchase Agreement attached hereto as Exhibit 10.1, which is incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Class B Preferred Stock.
to the terms of the Class B Preferred Stock Purchase Agreement, the Company issued GHS an aggregate of Four Hundred and Eight shares of Class B Preferred Stock. The foregoing was not registered under the Class B Preferred Stock Act of 1933 and was made in reliance upon the exemptions from the registration requirements of the Class B Preferred Stock Act set forth in Regulation D thereof.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.
The Company filed a certificate of designation (the “Certificate of Designation”) with the State of Nevada to amend its Amended and Restated Articles of Incorporation to designate One Thousand Five Hundred Shares of preferred stock as Class B Preferred Stock.
Below is a summary description of the material rights, designations and preferences of the Class B Preferred Stock (all capitalized terms not otherwise defined herein shall have that definition assigned to it as per the Certificate of Designation).
The Company has the right to redeem the Class B Preferred Stock, in accordance with the following schedule:
SinglePoint Inc. Exhibit
EX-3.1 2 sing_ex31.htm CERTIFICATE OF DESIGNATION sing_ex31.htmEXHIBIT 3.1 1 SINGLEPOINT INC. CERTIFICATE OF DESIGNATION OF PREFERENCES,…
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About Singlepoint Inc. (OTCMKTS:SING)
Singlepoint, Inc. (SinglePoint) is a mobile technology company. The Company is focusing on mobile payments, mobile giving and mobile bidding. The Company operates a mobile commerce and communications platform designed to serve the needs of the non-profit community, as well as vendors that want to accept mobile credit card payments. Singlepoint’s short message service (SMS) services allows its clients to conduct business transactions, accept donations and engage in targeted communication campaigns with their customers/donors on a national and international scale. The Company offers mobile marketing solutions, including a mobile credit card gateway, mobile donations, SMS text messaging services and Text2Bid. The Company supplies merchants with credit card transactions through mobile devices through SMS. The business provides customers with marketing tools specializing in mobile commerce and mobile donations.