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EX-10.1 - SETTLEMENT AGREEMENT - Bravatek Solutions, Inc. | ecry_ex101.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 0R 15 (D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 14, 2015
Ecrypt Technologies, Inc. |
(Exact name of registrant as specified in its charter) |
Colorado
(State or Other Jurisdiction of Incorporation)
000-1449574 |
|
32-0201472 |
(Commission File Number) |
|
(IRS Employer Identification No.) |
2028 E Ben White Blvd, Suite 240-2835, Austin, Texas |
|
78741 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
(866) 204-6703
(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))
Item 1.01 Entry Into a Material Definitive Agreement
On June 14, 2015, Ecrypt Technologies, Inc. (the “Company”) entered into a Settlement Agreement and Partial Waiver and Release (the “Settlement Agreement”) with Global Capital Corporation, a Nevada corporation, lender and preferred shareholder of the Company (“Global”). Global owns 2,377,500 shares of the Company’s 5,000,000 issued and outstanding shares of Series A Convertible Preferred Stock (the “Global Preferred Stock”), and is the holder of outstanding promissory notes in the original principal amount of $558,500, with accrued interest thereon due to Global of approximately $267,960 (the “Global Notes”). Pursuant to the Settlement Agreement, Global agreed to (1) waive interest due under the Global Notes and waive $158,500 of principal due under the Global Notes, such that only $400,000 of principal and interest would be considered outstanding as of the settlement agreement date, and (2) immediately return all of the Global Preferred Stock to the Company for cancellation, in consideration for the Company issuing 21,397,500 shares of common stock to Global.
The foregoing descriptions of the Agreement and the terms thereof are qualified in their entirety by the full text of such agreement, which is filed as Exhibit 10.1 to, and incorporated by reference in, this report.
Item 9.01 Financial Statements and Exhibits
The exhibit listed in the following Exhibit Index is filed as part of this report:
10.1 |
Settlement Agreement dated June 10, 2015. |
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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.
ECRYPT TECHNOLOGIES, INC. | |||
Date: June 15, 2015 | By: | /s/ Thomas A. Cellucci | |
Thomas A. Cellucci | |||
Chief Executive Officer |
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