Current Report Filing (8-k)
April 27 2021 - 4:14PM
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): April
27, 2021
Marijuana Company of America, Inc.
(Name of registrant in its charter)
Utah
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000-27039
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98-1246221
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(State or jurisdiction of
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(Commission File
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(IRS Employer
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incorporation or organization)
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Number)
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Identification No.)
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1340 West Valley Parkway, Suite #205
Escondido, California 92029
(Address of principal executive offices)
(888) 777-4362
(Registrant’s telephone number)
N/A
(Former name or former address, if changed since last
report)
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 Instructions
A.2 below):
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☐
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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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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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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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Securities registered pursuant to Section 12(b) of
the Act: None.
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 5.02. Departure of Directors or Certain Officers; Election
of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Amendment to Executive Employment Agreement
Effective as of April 22, 2021, the Board of Directors
of Marijuana Company of America, Inc. (the “Company”) approved an increase in the cash portion of the compensation payable
to Jesus Quintero, the Company’s Chief Executive Officer and Chief Financial Officer, effective as of May 1, 2021, from $12,000
per month to $20,000 per month, as well as the immediate issuance to Mr. Quintero of 20,000,000 fully paid and non-assessable shares of
the Company’s common stock, par value $0.001 per share, as a one-time bonus. Thereafter, on April 27, 2021, the parties entered
into an amendment (the “Amendment”) to that certain Executive Employment Agreement, dated February 3, 2020, by and between
the Company and Mr. Quintero.
The foregoing description of the Amendment does not
purport to be complete and is subject to, and qualified in its entirety by reference to the full text of the Amendment, a copy of which
is attached hereto as Exhibit 10.1, and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
+ Indicates a management contract or any
compensatory plan, contract or arrangement.
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.
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MARIJUANA COMPANY OF AMERICA, INC.
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Date: April 27, 2021
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By:
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/s/ Jesus Quintero
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Jesus Quintero
Chief Executive Officer
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