UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) off The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 26, 2020

 

GENUFOOD ENERGY ENZYMES CORP.

(Exact name of registrant as specified in charter)

 

Nevada   000-56112   68-0681158
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (IRS Employer
Identification No.)

 

1108 S. Balwain Avenue, Suite 107

Arcadia, California

  91007
(Address of principal executive offices)   (Zip Code)

                                                                                

(855) 707-2077

Registrant’s telephone number

 

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:

 

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: None

 

 

Title of each class

  Trading Symbol(s)   Name of each exchange on which registered
         


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.   

 

 

 

 

 

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On August 26, 2020, Jui Pin (John) Lin, the President and Chief Executive Officer of Genufood Energy Enzymes Corp. (the “Company”), made a loan (the “August Loan”) to the Company in the principal amount of $35,000. The August Loan bears simple interest at a rate of 4% per annum, and is payable as to both principal and interest on the sixth-month anniversary of the August Loan, which is February 26, 2021 (the “Maturity Date”). This is one of a series of loans that Mr. Lin has made from time to time to help the Company meets its obligations.

 

Mr. Lin, as the holder of the Company’s 4% Convertible Promissory Note dated August 26, 2020 (the “August Note”) evidencing the August Loan, may, at his sole option, convert (a “Voluntary Conversion”) the then outstanding principal and accrued and unpaid interest on the August Note into shares of the common stock of the Company (“Common Stock”) at a rate of $0.05 per share.

 

The August Note also provides for events of default and remedies in such event, including without limitation interest at a rate equal to the lesser of 10% per annum or the maximum interest rate allowed under usury or other similar laws from the Maturity Date until the August Note is paid in full. The August Note also contains other terms and conditions typical for a transaction of this type.

 

Item 9.01 Financial Statements and Exhibits.

 

10.1 4% Convertible Promissory Note dated August 26, 2020

 

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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.

 

  GENUFOOD ENERGY ENZYMES CORP.
     
Date:  August 28, 2020 By: /s/ Jui Pin Lin
   

Jui Pin Lin

Chief Executive Officer

 

 

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