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EX-10.1 - STRATEGIC ALLIANCE AGREEMENT - Bravatek Solutions, Inc.bvtk_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): February 15, 2018

 

Bravatek Solutions, 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)

 

_____________________________________________

(Former name or former address, if changed since last report)

 

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):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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 o

 

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. o

 

 
 
 
 

Item 1.01 Entry into a Material Definitive Agreement.

 

On February 15, 2018, Bravatek Solutions, Inc. (the “Bravatek”) entered into a Strategic Alliance Agreement (the “Strategic Alliance Agreement”) with IEVOLV Ventures, Inc., a California corporation engaged in providing turnkey telecom services (“IEVOLV”), and with DP Telecom Inc., a Wyoming corporation engaged in providing telecommunications implementation support for turn-key vendors with a focus on electrical and ground-based projects while providing logistical management for strategic partners in the northern California market (“DP Telecom” and together with IEVOLV the “MAP Partners”), for the purpose of promoting the MAP Partners’ relevant capabilities, products and/or service solutions, and pursuant to which the MAP Partners will cross-promote Bravatek’s products and services, and Bravatek will be paid sales commissions in the range of 15%-20% of project net profit for clients introduced by Bravatek.

 

Pursuant to the Strategic Alliance Agreement, the parties also agreed that Bravatek would make every reasonable effort to fund $200,000 to DP Telecom within 60 days pursuant to a Credit Agreement attached to the Strategic Alliance Agreement as Exhibit A (the “Credit Agreement”), which the MAP Partners and Bravatek would execute at closing of the funding (the “Closing”). At the Closing, (1) Bravatek will fund DP Telecom $200,000, (2) DP Telecom will execute a secured promissory note (the “Note”) and security agreement (the “Security Agreement”) in the forms attached as exhibits to the Credit Agreement, (3) IEVOLV will execute a guaranty (the “Guaranty”) in the form attached as an exhibit to the Credit Agreement, (4) each of DP Telecom and IEVOLV will agree to pay Bravatek 20% of their net profits for a minimum of 6 months following the Closing, and (5) each of DP Telecom and IEVOLV will grant Bravatek a right of first refusal to provide telecom services for all telecom projects that either DP Telecom or IEVOLV receive for a minimum of 6 months following Closing.

 

Pursuant to the Note, DP Telecom will repay Bravatek $200,000, plus $20,000 of interest, within 120 days of the Closing. Pursuant to the Security Agreement, DP Telecom’s obligations under the Note will be secured by a security interest in all of DP Telecom’s assets. Pursuant to the Guaranty, IEVOLV will guaranty DP Telecom’s obligations under the Note.

 

The foregoing description of the Strategic Alliance Agreement, Credit Agreement, Note, Security Agreement, Guaranty and their terms is qualified in its entirety by the full text of the Strategic Alliance 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

 

Strategic Alliance Agreement dated February 15, 2018

  

 

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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.

 

 

 

BRAVATEK SOLUTIONS, INC.

       

Date: February 15, 2018

By: /s/ Thomas A. Cellucci

 

 

Thomas A. Cellucci

 
    Chief Executive Officer  

 

 

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