Current Report Filing (8-k)
April 28 2020 - 4:54PM
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 20, 2020
Bantec, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
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000-55789
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30-0967943
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(state or other jurisdiction
of incorporation)
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(Commission File Number)
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(IRS Employer
Identification Number)
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195
Paterson Avenue, Little Falls, NJ 07424
(address of principal executive offices) (zip
code)
___________(203) 220-2296________________
(registrant’s telephone number, including
area code)
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):
☐
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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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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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Common Stock
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BANT
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OTC
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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
April 20, 2020, Bantec, Inc. (the “Company”) entered into a convertible promissory note with Geneva
Roth Remark Holdings, Inc. (“Lender”) in the principal amount of $60,000, (the “April 20, 2020 Note”).
The April 20, 2020 Note carries interest at the rate of 10%, matures on April 20, 2021, and is convertible into shares of the Company’s
common stock, par value $0.0001, at the Lender’s election, after 180 days, at a 42% discount, provided that the Lender may
not own greater than 4.99% of the Company’s common stock at any time.
The foregoing is a
summary of the terms of the April 20, 2020 Note and is qualified in its entirety by the April 20, 2020 Note attached hereto and
incorporated herein as Exhibit 10.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
The following exhibits are filed with this report:
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.
Date: April 24, 2020
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Bantec, Inc.
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By:
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/s/ Michael Bannon
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Name: Michael Bannon
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Title: President and CEO
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2
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