Current Report Filing (8-k)
August 19 2021 - 4:56PM
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): August 13, 2021
TARONIS
FUELS, INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
000-56101
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32-0547454
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employee
Identification
No.)
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24980
N. 83rd Avenue, Suite 100
Peoria,
AZ 85383
(Address
of principal executive offices) (Zip Code)
(866)
370-3835
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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[
]
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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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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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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. [ ]
Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
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On
August 13, 2021, Taronis Fuels, Inc. (the “Company”) and Edward J. Fred, the previous Chief Financial Officer and Treasurer
and interim Chief Executive Officer and President of the Company, entered into a settlement agreement and general release (the “Agreement”)
in connection with Mr. Fred’s resignation from his employment with the Company. Subject to the terms of the Agreement, the Company
will make cash payments of $371,586.54 to Mr. Fred and pay COBRA premiums for Mr. Fred for up to eleven months. In addition, the Agreement
includes certain confidentiality, intellectual property assignment, non-disparagement and non-solicitation provisions and a release of
claims by Mr. Fred.
The
foregoing description of the Agreement is not complete and is qualified in its entirety by the full text of the Agreement, a copy of
which is attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference herein.
Item
9.01
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Financial Statements and Exhibits.
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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.
Date: August 19, 2021
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TARONIS FUELS, INC.
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By:
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/s/ Mary Pat Thompson
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Name:
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Mary Pat Thompson
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Title:
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Chief Financial Officer and Treasurer
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Taronis Fuels (CE) (USOTC:TRNF)
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