SOLIS TEK INC. (OTCMKTS:SLTK) Files An 8-K Other Events

SOLIS TEK INC. (OTCMKTS:SLTK) Files An 8-K Other Events
Item 8.01 Other Events.

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As previously reported on a Current Report on Form 8-K filed by Solis Tek Inc. (the “Company”) with the Securities and Exchange Commission (the “SEC”) on February 15, 2018, on or about February 8, 2018, holders of a majority of the voting power of the issued and outstanding shares of common stock entitled to vote, acting by written consent, purported to remove Mr. Dennis G. Forchic as a member of the board of directors of the Company (the “Board”). Subsequent thereto, the Company operated under the assumption that Mr. Forchic was no longer a member of the Board, and has taken various corporate actions on the presumption that they were properly approved by the Board at a meeting duly assembled, or by unanimous written consent, under the Nevada Revised Statutes (“NRS”).

The Company has since determined that such removal was invalid under Section 78.335 of the NRS, which requires that the removal of a director requires the approval of holders of not less than two-thirds of the voting power of the issued and outstanding shares of common stock entitled to vote. As a result, corporate actions approved by the Board subsequent to the purported removal of Mr. Forchic are deemed deficient under the NRS because the Board did not approve such actions by unanimous written consent or at board meetings duly assembled. In addition, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the SEC on April 2, 2018 (the “2017 Form 10-K”), is materially deficient due to inaccurate and incomplete disclosure with respect to the Company’s Board.

The Company further acknowledges that, even if the purported removal of Mr. Forchic by majority written consent of the stockholders was deemed valid under the NRS, the Company did not file an Information Statement on Schedule 14C with the SEC as required by the provisions of the Securities Exchange Act of 1934, as amended, to notify the stockholders of the Company of the purported removal of Mr. Forchic as director.

In light of these findings, the Company will undertake to amend its 2017 Form 10-K promptly to correct the material deficiencies relating to the composition of the Board. In addition, the Company intends to, in a timely manner, to call a Board meeting and take all necessary Board action to ratify all actions taken subsequent to the date of the purported removal of Mr. Forchic.


About SOLIS TEK INC. (OTCMKTS:SLTK)

Solis Tek Inc., formerly Cinjet, Inc., is an importer, distributer and marketer of digital lighting equipment for the hydroponics industry. The Company provides aptitudes with its ballast, reflector and lamp products. The Company is focused on the research, design, development and manufacturing of indoor horticulture lighting and ancillary equipment. Its product line includes digital ballasts, a line of lighting products including a line of specialty ballasts ranging from 400 watts to 1,000 watts with various features, a line of specialty metal halide digital lamps (Lamp Products), a line of reflectors, high intensity lighting accessories and a line of double ended lamps, ceramic metal halide lamps and light emitting diode (LED) lighting technologies. Solis Tek Digital Ballasts are designed with Ignition Control sequential lamp ignition, and SenseSmart, self- diagnostic safety systems. Solis Tek Digital Lamps are designed to be tuned and matched with Solis Tek digital ballasts.

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