Current Report Filing (8-k)
March 31 2016 - 3:05PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
March
24, 2016
HYDROCARB ENERGY CORPORATION
(Exact name of registrant as specified in its
charter)
Nevada
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000-53313
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30-0420930
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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800 Gessner, Suite 375, Houston, Texas
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77024
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(Address of principal executive offices)
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(Zip Code)
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(713) 970-1590
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Registrant’s telephone number, including area code
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Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.04 Triggering Events That Accelerate
or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On March 24, 2016, Hydrocarb
Energy Corp. (the “
Company
”), received a Notice of Default, Acceleration of Loans and Exercise of Remedies (the
“
Notice
”) from Shadow Tree Capital Management LLC (“
Shadow Tree
”). Pursuant to the Notice,
Shadow Tree provided notice that an event of default had occurred under the Amended and Restated Credit Agreement dated June 10,
2015 (as amended to date), due to the Company’s failure to timely pay interest on the loans made by Shadow Tree when due,
declared all loans due and payable immediately in full, and directed the Company to hold all assets subject to Shadow Tree’s
security interest (i.e., substantially all of our assets) for the benefit of Shadow Tree pursuant to Shadow Tree’s security
agreement.
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned,
hereunto duly authorized.
Date: March 31, 2016
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Hydrocarb Energy Corporation
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/s/ Kent P. Watts
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Kent P. Watts
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Chief Executive Officer
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