Current Report Filing (8-k)
March 02 2018 - 5:30PM
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): January
5, 2018
Creative Medical Technology Holdings,
Inc.
(Exact name of registrant as specified in
its charter)
Nevada
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000-53500
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87-0622284
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(State or other jurisdiction of
incorporation)
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(Commission File Number)
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(I.R.S. Employer
Identification No.)
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2017 W Peoria Avenue, Phoenix, AZ 85029
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(Address of principal executive offices)
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Registrant’s telephone number, including
area code:
(602) 680-7439
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:
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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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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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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
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.
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Item 3.02
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Unregistered Sales of Equity Securities.
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Convertible Notes and Note Conversions
On February 15, 2018, we issued a convertible
promissory note dated February 15, 2018, in the face amount of $53,000 to Power Up Lending Group Ltd., for which we received gross
proceeds of $53,000. The note bears interest at 12% per annum, which would increase to 22% upon an event of default and has a maturity
date of February 15, 2019. Within 180 days of the note, the note is convertible at any time into shares of our common stock at
a conversion price equal to 61% of the average of the two lowest trading prices of our common stock during the 15 trading days
preceding the conversion date. We have the option to redeem the note within 30 days from the date of issuance at 115% of the principal
and interest; between 31 and to 60 days from the date of issuance at 120% of the principal and interest; between 61 days and 90
days from the date of issuance at 125% of the principal and interest; between 91 days and to 120 days from the date of issuance
at 130% of the principal and interest; between 121 days and to 150 days from the date of issuance at 135% of the principal and
interest; between 151 days and to 180 days from the date of issuance at 140% of the principal and interest and after 180 days the
right of prepayment expires. We are required at all times to have authorized and reserved six times the number of shares that would
be issuable upon full conversion of this note.
From January 1, 2018 through March 2, 2018,
we issued an aggregate of 118,352,069 shares upon the conversions of outstanding notes and cashless exercises of warrants issued
to lenders. As a result of these issuances, we have outstanding 233,571,295 shares of common stock as of March 2, 2018.
The sale of these securities were made
pursuant to Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act. The purchasers of the securities were
“accredited investors” as defined in Rule 501(a) of Regulation D. The purchasers acknowledged appropriate investment
representations with respect to the issuances of the securities and consented to the imposition of restrictive legends upon the
certificates representing the notes, conversion shares and warrants. The securities were not issued as a result of any general
solicitation. The purchasers were afforded the opportunity to ask questions of our management and to receive answers concerning
the terms and conditions of the investments. No selling commissions or other remuneration were paid in connection with the sale
of these securities.
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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Creative Medical Technology Holdings, Inc.
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Date: March 2, 2018
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By:
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/s/ Timothy Warbington
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Timothy Warbington, Chief Executive Officer
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