Current Report Filing (8-k)
October 23 2018 - 12:24PM
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): October 18, 2018
Hash
Labs Inc.
(Exact
Name of Registrant as Specified in Charter)
Nevada
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033-25126
D
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85-0368333
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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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78
SW 7
th
Street
Miami,
FL
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33130
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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: (561) 295-1990
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(Former
name or former address, if changed since last report)
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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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☐
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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 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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
October 18, 2018, Hash Labs Inc. and its wholly-owned subsidiary CXAU Corp. (collectively with Hash Labs Inc., the “Company”)
entered into a master services agreement with Dillon Gage Incorporated of Dallas (“Dillon Gage”). Pursuant to the
master services agreement, the Company and Dillon Gage agreed to cooperate and use commercially reasonable efforts to enable the
launch of the Company’s mobile application , CXAU Digital Vault and Crypto-Gold, that will convert gold into a price-stable,
100% backed by physical gold crypto asset, by March 4, 2019.
Under
the master services agreement, upon the launch of the CXAU platform, the Company will be responsible for the general management
and operation of the CXAU platform, and Dillon Gage agreed to provide certain services in connection with the CXAU platform, including
to (a) coordinate and manage the deposit and transfer of CXAU users’ physical gold into digital/crypto gold, (b) coordinate
and manage the acquisition and deposit of physical gold in direct proportion to the CXAU users’ digital vault conversion,
with fiat currency, (c) coordinate purchase and delivery of physical gold to vaults operated by the Royal Canadian Mint, for reserve
on behalf of the CXAU members, (d) coordinate the insurance, audit and storage of the CXAU physical gold reserves, and (e) upon
any redemption/liquidation by a CXAU member, convert the CXAU unit value into physical gold, and transfer the redemption gold.
Dillon Gage will be entitled to 50% of certain fees that the Company contemplates it will charge and collect from CXAU members.
The
foregoing description of the master services agreement is not complete and is qualified in its entirety by reference to the full
text of such agreement filed as an exhibit to this Form 8-K.
Item
9.01 Financial Statements and Exhibits.
(d)
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 thereunto duly authorized.
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HASH LABS INC.
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Date: October 23, 2018
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By:
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/s/ J.
Mark Goode
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Name: J.
Mark Goode
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Title: Chief Executive
Officer
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