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): October 28, 2020

 

FLITWAYS TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

 

Nevada 000-55316 47-2489112
(State of incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

 

224 Datura Street, #1015

West Palm Beach, FL 33414

(Address of principal executive offices)

 

Phone: (855) 710-0915

(Registrant’s telephone number)

 

 

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 (see General Instruction A.2. below):

 

☐ 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: None

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
N/A N/A N/A

 

Securities registered pursuant to Section 12(g) of the Act: Common Stock, par value $0.001 per share

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

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.

 

     

 

Item 1.03 Bankruptcy or Receivership

 

The Company has formally entered into the Chapter 11 reorganization. The Company has retained the law firm of Chad van Horm , in Fort Lauderdale, Florida.

 

The Company has arranged certain pre-arranged Chapter 11 financing to allow the Company to emerge post Chapter 11 with a viable new business model.

 

The current preferred shareholder, Mina Mar Group, has assigned 33.3 % of its controlling interest to Intersection Capital LLC in exchange for a one-time cash payment of $75,000 with an outlook to acquire the remaining 66.7% of the preferred shares in concert with the Company’s successful exit from the Chapter 11 bankruptcy protection and other non related matters.

 

The Company has commenced with certain legal and accounting procedural steps to return to being an SEC reporting entity.

 

Item 5.02 Departure of Directors or Certain Officers

 

On October 28, 2020, Daniel Sobolewski resigned as CEO and any other positions held with Flitways Technology Inc. Miro Zecevic will serve as the interim management.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit 99.1 - Resignation Letter of Daniel Sobolewski

 

 

  4  

 

 

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.

 

  FLITWAYS TECHNOLOGY, INC.
   
  By:  /s/Miro Zecevic
    Miro Zecevic
    Chief Executive Officer

 

Date:  November 3, 2020

 

 

 

 

 

 

  5