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Filed Pursuant to Rule 424(b)(8)
Registration No. 000-56142
Prospectus Supplement dated May 11, 2020
PROSPECTUS SUPPLEMENT
(To Prospectus dated December 10, 2018)
OBITX, INC.
2,902,811 SHARES OF COMMON STOCK AND 3,000,000 UNDERLYING SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF WARRANTS
This prospectus supplement should be read in conjunction with the prospectus dated December 10, 2018. MCIG, Inc., a Nevada corporation (“MCIG”), distributed to its shareholders 298,202 shares of Common Stock of OBITX, Inc. (the “Company” or “OBITX”), owned by MCIG, a shareholder of OBITX. The shareholders of MCIG received one (1) share of OBITX common stock for every thousand (1,000) shares of MCIG common stock. The record date was December 11, 2018.
In addition to this transaction, the Company registered 2,500,000 shares of the Company’s common stock belonging to two shareholders and 3,000,000 underlying common shares for the warrants to purchase the Company’s common stock at $1.00 per share to six former and current management personnel and shareholders. (See “Selling Shareholders”)
Investing in our common stock involves significant risks. See the section entitled “Risk Factors” of our Annual Report on Form 10-K for the year ended January 31, 2019 and any updates to those risk factors in our subsequent quarterly reports on Form 10-Q and any current reports on Form 8-K, which are incorporated by reference into, and deemed to be a part of, this prospectus supplement and the prospectus. See also “Risk Factors” beginning on page 4 of the prospectus.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
You should rely only on the information contained in, or incorporated by reference into, this prospectus supplement and the accompanying prospectus. We have not authorized anyone to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. We are not making an offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information contained in this prospectus supplement, the accompanying prospectus or the documents incorporated by reference herein and therein is accurate as of any date other than the date on the front of this prospectus supplement or the accompanying prospectus.
All filing fees payable in connection with the registration of the shares registered by the registration statement on Form S-1 were paid by the registrant at the time of the initial filing of such registration statement. No additional securities are registered herein.
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