Current Report Filing (8-k)

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): May 14, 2020

Bantec, Inc.

(Exact name of registrant as specified in its charter)

Delaware		000-55789		30-0967943
(state or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification Number)

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):

☐	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))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock		BANT		OTC

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 May 14, 2020, Bantec, Inc. (the “Company”) entered into a convertible promissory note with Tri-Bridge Ventures, LLC (“Lender”) in the principal amount of $35,000, (the “May 14, 2020 Note”). The May 14, 2020 Note carries interest at the rate of 8%, matures on May 14, 2021, and is convertible into shares of the Company’s common stock, par value $0.0001, at the Lender’s election, at a 40% discount, provided that the Lender may not own greater than 9.99% of the Company’s common stock at any time.

On May 27, 2020, the Company received funding for the Convertible Promissory Note from Tri-Bridge Ventures, LLC.

The foregoing is a summary of the terms of the May 14, 2020 Note and is qualified in its entirety by the May 14, 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:

Exhibit No.		Description
10.1		May 14, 2020 Convertible Promissory Note with Tri-Bridge Ventures, LLC

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.