STEALTH TECHNOLOGIES, INC. (OTCMKTS:STTH) Files An 8-K Entry into a Material Definitive Agreement

STEALTH TECHNOLOGIES, INC. (OTCMKTS:STTH) Files An 8-K Entry into a Material Definitive Agreement

Story continues below

ITEM 1.01

ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On May 26, 2017, we entered into a Securities Purchase Agreement
(the “Agreement”) with Crossover Capital Fund II, LLC
(“Crossover”) located in Bainbridge Island, Washingon wherein
we issued two convertible redemmable promissory notes, each in
the amount of $63,000 or a total of $126,000. Both notes are due
on May 23, 2018. The first note may be prepaid in accordance with
the terms contained therein. The second note may not be prepaid,
except to the terms of paragraph (c) of the second note.
As part and parcel of the foregoing transactions, 30,455,000
shares of our common stock have been reserved at Action Stock
Transfer Coporation, our transfer agent, for possible issuance
upon the conversion of the notes into shares of our common stock.
ITEM 3.02 UNREGISTERED SALE OF EQUITY SECURITIES.
On May 26, 2017, we entered into a Securities Purchase Agreement
(the “Agreement”) with Crossover Capital Fund II, LLC
(“Crossover”) located in Bainbridge Island, Washingon wherein,
we issued two convertible redemmable promissory notes, each in
the amount of $63,000 or a total of $126,000. Both notes are due
on May 23, 2018. The first note may be prepaid in accordance with
the terms contained therein. The second note may not be prepaid,
except to the terms of paragraph (c) of the second note.
As part and parcel of the foregoing transactions, 30,455,000
shares of our common stock have been reserved at Action Stock
Transfer Coporation, our transfer agent, for possible issuance
upon the conversion of the notes into shares of our common stock.
We have relied on the exemptions from registration contained in
Section 4(a)(2) of the Securities Act of 1933, as amended (the
“Act”), in that Crossover was furnished with the same
information about us that could be found in Part I of a Form S-1
registration and Crossover is a “sophisticated investor” as the
term is defined in the rules, regulations, and decisions of the
Securities and Exchange Commission (the “Commission”); further,
Crossover has represented it is an “accredited investor” as
that term is defined in Reg. 501(a) of the Act.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Exhibit
Document Description
10.1
Agreement with Crossover Capital Fund II, LLC
10.2
8% Convertible Redeemable Note Due May 23, 2018
10.3
8% Convertible Redeemable Note Due May 23, 2018 Back End


About STEALTH TECHNOLOGIES, INC. (OTCMKTS:STTH)

Stealth Technologies, Inc., formerly Excelsis Investments, Inc., is engaged in identifying and capitalizing on emerging technology and associated markets. The Company’s operations are focused on product development and sales in the Personal Financial Protection and Data Protection businesses. Its consumer product, the Stealth Card, is designed to protect the enabled card acceptance Europay, MasterCard and Visa (EMV) chip in a consumer’s credit card from electronic pickpocketing that uses a smartphone, credit card reader or radio-frequency identification (RFID) antenna to remotely access data stored on the consumer’s EMV Smartchip. The data includes an individual’s credit card number, name and provides the potential criminal with access to a card’s EMV frequency. The Company sells its products to both the consumer and business-to-business markets. It sells products to consumers through its e-commerce Website. Its business-to-business sales take place at the customer’s location.

STEALTH TECHNOLOGIES, INC. (OTCMKTS:STTH) Recent Trading Information

STEALTH TECHNOLOGIES, INC. (OTCMKTS:STTH) closed its last trading session up +0.0005 at 0.0135 with shares trading hands.

An ad to help with our costs