Spotlight Innovation Inc. (OTCMKTS:STLT) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item 2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a Registrant
On April 19, 2017, Spotlight Innovation Inc. (the Company)
received $400,000 from K4 Enterprises, LLC (K4) which the Company
is treating as a demand note, although no demand for payment has
made. There is no written agreement between the Company and K4
evidencing the note.
A member of the Companys board of directors and the Companys
President and Chief Operating Officer, John Krohn, is the
Managing Member of K4 and in such capacity holds voting and
dispositive power over the securities held by such entity. Mr.
Krohn holds 50% of the equity ownership interest in K4 and thus
is a beneficial owner of 50% of the securities held by K4.
About Spotlight Innovation Inc. (OTCMKTS:STLT)
Spotlight Innovation Inc., formerly American Exploration Corporation, is a bioscience company. The Company is focused on acquiring the rights, through acquisition, license or otherwise, to various technologies. The Company is engaged in identifying and targeting technology candidates, including cancer drugs and treatment therapies for various disease states; drug and related treatment therapies for various infectious diseases, and other technology candidates. The Company focuses on diseases that are rare, which are known as orphan diseases, or new or common but underserved, such as feline chronic kidney disease. As of December 31, 2015, the Company had three subsidiaries: Celtic Biotech Iowa, Inc., CDT Veterinary Therapeutics, Inc. and Memcine Pharmaceuticals, Inc. Through its subsidiary, Celtic Biotech Iowa, Inc., it develops a range of drug candidates, such as Crotoxin, Cardiotoxin, VRCTC310 and Crotamine. Through its subsidiary, Memcine Pharmaceuticals, Inc., it offers Immunoplex. Spotlight Innovation Inc. (OTCMKTS:STLT) Recent Trading Information
Spotlight Innovation Inc. (OTCMKTS:STLT) closed its last trading session up +0.031 at 0.330 with 15,394 shares trading hands.