Current Report Filing (8-k)
May 29 2020 - 6:20AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): May 22, 2020
THE
OLB GROUP, INC.
(Exact
name of registrant as specified in its charter)
Delaware
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000-52994
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13-4188568
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(State
or other jurisdiction of
incorporation or organization)
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(Commission File
Number)
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(I.R.S. Employer
Identification
Number)
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200
Park Avenue, Suite 1700, New York, NY
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10166
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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: (212) 278-0900
Not
Applicable
(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 to 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 (§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. ☐
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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None
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N/A
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N/A
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Item 8.01
Other Events.
On
May 28, 2020, The OLB Group, Inc. (“we,” “us,” “our,” and the “Company”) issued
a press release relating to the Company’s closing of the purchase of certain assets constituting the Doublebeam business
from POSaBIT Inc. (“POSaBIT”) on May 22, 2020.
As
noted in the press release, the full text of which is attached as Exhibit 99.1 to this Current Report on Form 8-K, the Company
purchased certain of in the customer information and assets owned by POSaBIT related to the Doublebeam payment transaction processing
system used by certain food services and cafeteria merchants. In addition, the Company purchased all customer lists, all rights,
title and interests in and to certain contracts, rights to software and source codes, certain equipment and existing customer
and merchant relationships relating to the Doublebeam business, and certain of the assets, properties and rights of POSaBIT with
respect to the Doublebeam business.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits
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.
Dated:
May 28, 2020
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THE OLB GROUP
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By:
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/s/
Ronny Yakov
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Name:
Title:
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Ronny
Yakov
Chief Executive Officer
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