Current Report Filing (8-k)
February 07 2020 - 3:11PM
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)::
February 3, 2020
MCTC HOLDINGS, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware
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333-146404
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99-0539775
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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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520
S. Grand Ave., Suite 320
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Los
Angeles, CA
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90071
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(Address of principal executive offices)
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(Zip Code)
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Registrant’s telephone number, including
area code: (310) 986-4929
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:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
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Trading Symbols
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Name of Exchange on Which Registered
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Common
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MCTC
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None
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Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☒
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Section 5 - Corporate Governance and Management
Item 5.02 Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 3, 2020, the Registrant
appointed Robert L. Hymers III, age 36, as Chief Financial Officer and Principal Accounting Officer. Mr. Hymers is currently a
director of the Company. Since the beginning of the Registrant's last fiscal year to the effective date of Mr. Hymers’ appointment,
Mr. Hymers has not been a participant, nor has he had any direct or indirect material interest in any transaction in which the
Registrant was or is to be a participant, and the amount involved exceeded $120,000. There is no any arrangement or understanding
between Mr. Hymers and any other person(s) pursuant to which he was or is to be selected as an officer.
Mr. Hymers holds a Master of Science
in Taxation and a Bachelor of Science in Accountancy, in addition to a CPA license. Mr. Hymers will received an annual base salary
of one hundred and twenty thousand dollars ($120,000) for a term of one year. At the end of the term of the agreement, Mr. Hymers
has the right to convert any unpaid salary to common shares at a price to be determined in mutual agreement with the Board of Directors.
In addition, Mr. Hymers will receive seven hundred and fifty thousand (750,000) restricted common shares of the Company as of the
Effective Date. Vesting will be immediate. The Registrant has agreed to register these shares on a best efforts basis on its next
registration statement to be filed with the Commission.
On February 3, 2020, the Registrant
appointed Melissa Riddell, age 38 as a director of the Company. Since the beginning of the Registrant's last fiscal year to the
effective date of Ms. Riddell’s appointment, Ms. Riddell has not been a participant, nor has she had any direct or indirect
material interest in any transaction in which the Registrant was or is to be a participant, and the amount involved exceeded $120,000.
There is no any arrangement or understanding between Ms. Riddell and any other person(s) pursuant to which she was or is to be
selected as a director.
Ms. Riddell has extensive knowledge
in food sciences and substantial industry experience in areas of interest to the Registrant. The Registrant and Ms. Riddell entered
into an Independent Directors Agreement providing her with one hundred thousand (100,000) shares of common stock, which vests are
the rate of one twelfth (1/12) per month for 12 months. There is no cash compensation under the agreement.
Section 9 – Financial Statement
and Exhibits
Item 9.01 Financial Statements and
Exhibits
Exhibit No.
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Document
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Location
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10.1
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Executive Employment Contract, Robert L. Hymers, III
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Filed Herewith
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10.2
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Independent Director Agreement, Melissa Riddell
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Filed Herewith
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SIGNATURES
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.
Dated February 7, 2020
MCTC HOLDINGS, INC.
By: /s/ Arman Tabatabaei
Arman Tabatabaei
(Principal Executive Officer)
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