SKKYNET CLOUD SYSTEMS, INC. (OTCMKTS:SKKY) Files An 8-K Entry into a Material Definitive Agreement
ITEM 1.01
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Entry into a Material Definitive Agreement |
On March 7, 2017, Skkynet Cloud Systems, Inc. (the Company)
entered into a common stock purchase agreement with an accredited
investor for the sale of an aggregate of 233,000 shares of the
Companys common stock, $0.001 par value per share (the Common
Stock) with gross proceeds to the Company of $256,300.00. The
proceeds from this offering will be used to develop, promote and
market the Companys new financial product. The purchase price of
each share of Common Stock was $1.10 per share. The Company
expects the closing of the sale of the Common Stock to occur by
March 16, 2017. All shares of Common Stock issued will be
restricted securities as such term is defined by the Securities
Act of 1933, as amended (the Securities Act).
The shares of Common Stock will be issued in reliance upon an
exemption from registration provided by Rule 902(h) of Regulation
S of the Securities Act since no general solicitation or
advertising was conducted by us in connection with the offering
of any of the shares, all shares to be purchased in the offering
will be restricted in accordance with Rule 144 of the Securities
Act.
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ITEM 3.02 |
Unregistered Sales of Equity Securities |
On March 7, 2017, Skkynet Cloud Systems, Inc. (the Company)
entered into a common stock purchase agreement with an accredited
investor for the sale of an aggregate of 233,000 shares of the
Companys common stock, $0.001 par value per share (the Common
Stock) with gross proceeds to the Company of $256,300.00. The
proceeds from this offering will be used to develop, promote and
market the Companys new financial product. The purchase price of
each share of Common Stock was $1.10 per share. The Company
expects the closing of the sale of the Common Stock to occur by
March 16, 2017. All shares of Common Stock issued will be
restricted securities as such term is defined by the Securities
Act of 1933, as amended (the Securities Act).
The shares of Common Stock will be issued in reliance upon an
exemption from registration provided by Rule 902(h) of Regulation
S of the Securities Act since no general solicitation or
advertising was conducted by us in connection with the offering
of any of the shares, all shares to be purchased in the offering
will be restricted in accordance with Rule 144 of the Securities
Act.
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ITEM 9.01 |
Financial Statements and Exhibits |
|
Exhibit No. |
Description of Exhibit |
|
10.1* |
Form of Common Stock Purchase Agreement |
__________
*filed herewith
About SKKYNET CLOUD SYSTEMS, INC. (OTCMKTS:SKKY)
Skkynet Cloud Systems, Inc. (Skkynet) is an industrial middleware company. The Company provides software and related systems and facilities to collect, process and distribute information over a network. The Company is engaged in the industrial processing and financial services. The Company, through its software, allows its customers to both locally and remotely manage, supervise and control industrial processes and financial information systems. Skkynet also provides hardware and firmware development for embedded systems. The concepts and software’s of its products and services are applicable to various sectors, including fleet tracking, energy usage monitoring and control, including solar power and agriculture. It provides connectivity and data acquisition to various industrial and office hardware and software products, and also making that data available over a network. Its data products include a redundancy facility and a Web-based user interface providing desktop quality graphics. SKKYNET CLOUD SYSTEMS, INC. (OTCMKTS:SKKY) Recent Trading Information
SKKYNET CLOUD SYSTEMS, INC. (OTCMKTS:SKKY) closed its last trading session 00.000 at 0.900 with 3,300 shares trading hands.
