Current Report Filing (8-k)
January 11 2022 - 6:01AM
Edgar (US Regulatory)
0001536089
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0001536089
2021-12-01
2021-12-01
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xbrli:shares
iso4217:USD
xbrli:shares
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): December 1, 2021
VIRTUAL
INTERACTIVE TECHNOLOGIES CORP.
(Exact
name of Registrant as specified in its charter)
Nevada
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|
None
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36-4752858
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
No.)
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Identification
No.)
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600
17th Street, Suite 2800 South
Denver,
CO 80202
(Address
of principal executive offices, including Zip Code)
Registrant’s
telephone number, including area code: (303) 228-7120
Check
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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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-14(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 13a 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
1.01
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Entry
Into a Material Definitive Agreement.
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On
December 1, 2021 the Company entered into an agreement with a production entity for the services of Duane “Dog” Chapman,
also known as “Dog the Bounty Hunter.” Pursuant to the agreement, the Company and Mr. Chapman will develop and market a line
of video games in cooperation with the other and will use Mr. Chapman’s name, image, and likeness in connection with the advertisement,
promotion, and sale of the video games.
During
the term of the Agreement the gross receipts from the sale of the video games will be split between the Company and Mr. Chapman according
to the following:
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% of Gross Receipts paid to
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Gross Receipts
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Company
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Chapman
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up to $1,000,000
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85
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%
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15
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%
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$1,000,001 to $3,000,000
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80
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%
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20
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% (1)
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over $3,000,000
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70
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%
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25
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%
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In
addition to the above, the Company agreed to:
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●
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issue
Mr. Chapman 100,000 shares of the Company’s restricted common stock in a series of
20,000 share tranches with the final tranche issuable on December 1, 2022, and
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●
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pay
Mr. Chapman $150,000 over a period ending on March 10, 2022.
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The
Agreement with Mr. Chapman expires on December 1, 2023.
(1)
The Company will be entitled to retain $75,000 from all amounts due to Mr. Chapman for sales of the video games between $1,000,001 and
$3,000,000.
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:
January 10, 2022
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VIRTUAL
INTERACTIVE TECHNOLOGIES CORP.
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By:
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/s/
Janelle Gladstone
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Janelle
Gladstone
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Chief
Financial Officer
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