Current Report Filing (8-k)
August 30 2018 - 7:00AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 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):
August
27, 2018
SUPERIOR
DRILLING PRODUCTS, INC.
(Exact
name of registrant as specified in its charter)
Utah
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|
46-4341605
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(State
of Incorporation)
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(I.R.S.
Employer Identification No.)
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1583
South 1700 East
Vernal,
Utah
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84078
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(Address
of principal executive offices)
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(Zip
code)
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Commission
File Number:
001-36453
Registrant’s
telephone number, including area code:
(435) 789-0594
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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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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[ ]
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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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[ ]
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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]
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
August 27, 2018, and effective September 1, 2018, a wholly-owned subsidiary of Superior Drilling Product, Inc. (the “Company”)
entered into a commercial lease related to property in Abilene, Texas to be used for the manufacture and repair of the Company’s
product lines. The lease has a three year term, which commences September 1, 2018 and terminates on August 31, 2021. The lease
rental is $8,033 per month and the Company was required to provide an $8,000 security deposit. The lease also contains other customary
provisions regarding taxes, insurance, maintenance, repair, alterations, assignment and subleasing.
The
foregoing description of the lease agreement is qualified in its entirety by reference to the text of such document, which is
filed as Exhibit 10.1 to this Form 8-K and is incorporated herein by reference.
Item
8.01. Other Events.
On
August 29, 2018, the Company issued a press release in connection with the entry into the lease. The full text of the
press release is attached hereto as Exhibit 99.1.
Item 9.01
Financial Statements and Exhibits.
*
Filed herewith.
SIGNATURE
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.
Date:
August 30, 2018
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SUPERIOR
DRILLING PRODUCTS, INC.
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/s/
Christopher D. Cashion
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Christopher
D. Cashion
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Chief
Financial Officer
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