Current Report Filing (8-k)
May 27 2020 - 6:04AM
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 17, 2020
GLOBAL
DIVERSIFIED MARKETING GROUP, INC.
Exact
name of registrant as specified in its charter)
Delaware
|
|
000-55889
|
|
82-3707673
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
IRS
Employer
Identification
No.)
|
4042
Austin Boulevard, Suite B Island Park, New York
|
|
11558
|
(Address of principal
executive offices)
|
|
(Zip Code)
|
800-550-5996
Registrant’s
telephone number, including area code
NA
(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 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))
|
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. [ ]
Securities registered pursuant to Section
12(b) of the Act: None
Title
of each class
|
|
Trading
Symbol(s)
|
|
Name
of each exchange on which registered
|
|
|
|
|
|
Item
8.01 Other Events.
On
April 17, 2020, the Registrant received a forgivable loan in the amount $28,642 of under the Federal Payroll Protection Program
(“PPP”). While the rules under the PPP are complex and continue to evolve and be clarified, generally the PPP loan
will be forgiven if, during a certain measuring period that begins with the receipt of the loan, at least 75% of the loan is applied
to employee payroll expense with the balance applied to rent and utilities and the recipient employer has employees equal to 90%
of the number of employees it had prior to receipt of the loan. Management believes it will be able to make the required certifications
at the end of the 8 week period in June 2020 and the PPP Loan will be forgiven. To the extent the PPP Loan is not forgiven, it
is converted into a two year loan with an interest rate of 1% per annum,
On
May 21, 2020, the Registrant received a loan from the Small Business Administration in the amount of $150,000 (the “SBA
Loan”). The SBA Loan bears interest at 3.75% per annum and is payable over 30 years with all payments of principal and interest
deferred for the first 12 months.
The
PPP loan is being applied as required under the PPP Program and the SBA Loan is being used for general working capital.
Item
9.01 Financial Statements and Exhibits
Financial
Information
None
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.
|
Global
Diversified Marketing Group, Inc.
|
|
|
May
26, 2020
|
By:
|
/s/
Paul Adler
|
|
|
Paul Adler
|
|
|
President
|
Global Diversified Marke... (PK) (USOTC:GDMK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Global Diversified Marke... (PK) (USOTC:GDMK)
Historical Stock Chart
From Apr 2023 to Apr 2024