Current Report Filing (8-k)
September 29 2020 - 11:16AM
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):
September 29, 2020
SUGARMADE, INC.
(Exact name of registrant as specified in its
charter)
Delaware
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000-23446
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94-3008888
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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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750 Royal Oaks Dr., Suite 108
Monrovia, CA
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91016
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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: (888) 982-1628
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:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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N/A
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N/A
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N/A
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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 (§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 1.01 Entry Into a Material Definitive Agreement.
On September 28, 2020, Sugarmade, Inc.
(the “Company”) and LMK Capital LLC (“LMK”) entered into a Residential Lease
(the “Lease”) pursuant to which LMK agreed to lease to the Company five acres located in Northern California and owned
by LMK (the “Property”). Jimmy Chan, Chairman of the Board, Chief Executive Officer, Chief Financial Officer and majority
stockholder of the Company, is majority owner of LMK.
The
term of the Lease begins on October 1, 2020 and ends on September 30, 2023; provided, however, that at the end of the term, the
Lease will continue on a month-to-month basis. in the Pursuant to the terms of the Lease, the Company will pay rent in the amount
of $20,000 per month. The Lease also provides that the Company will pay a $250,000 security deposit to LMK. Pursuant to the terms
of the Lease, the monthly rent will increase to $0.50 per sq. ft. on cultivation area upon approval of certificate of occupancy
with a 3% increase each subsequent year.
The Company
intends to operate a regulated and licensed cannabis cultivation business on the Property.
Item 9.01 Financial Statements
and Exhibits
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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SUGARMADE, INC.
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Date: September 29, 2020
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By:
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/s/ Jimmy Chan
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Name:
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Jimmy Chan
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Title:
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Chief Executive Officer and Chief Financial Officer
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