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): December 10, 2019 (December 14, 2019)

 

GRAPHENE & SOLAR TECHNOLOGIES LIMITED

(Exact name of registrant as specified in its charter)

 

Colorado

 

333-174194

 

27-2888719

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

    

433 Camden Dr., Suite 600

Beverly Hills, CA

 

90210

(Address of principal executive offices)

 

(Zip Code)

   

Registrant's telephone number, including area code: (310) 887-1477

 

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))

 

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 x

 

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 1.02 Termination of a Material Definitive Agreement

 

Pursuant to Section 3 of the Business Consulting Agreement between the Company and OFS Capital Group (“OFS”), the Company cancelled the Agreement effective December 14, 2019. The cancellation was approved by the Company’s Board of Directors and was based on the Company’s position that OFS failed to fully perform the duties required to be performed as set forth in the Business Consulting Agreement.

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

 

Reference is made to Item 1.02. As a result of the cancellation referred to in such Item, Nils Ollquist, as principal of OFS, was terminated as a director of the Company with immediate effect and as the Company’s Chief Executive Officer effective as of December 14, 2019.

 

 
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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: December 10, 2019

Graphene & Solar Technologies Limited

 

 

 

 

 

 

By:

 /s/ ROGER MAY

 

 

Name:

 Roger May

 

 

Title:

Executive Chairman

 

 

 

 

 
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