Attached files

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EX-10.2 - PROMISSORY NOTE DATED AUGUST 24, 2018 ISSUED BY VPR BRANDS, LP TO DANIEL HOFF AN - VPR Brands, LP.e1930ex10-2.htm
EX-10.1 - PROMISSORY NOTE DATED AUGUST 16, 2018 ISSUED BY VPR BRANDS, LP TO SUNSHINE TRAVE - VPR Brands, LP.e1930ex10-1.htm

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 16, 2018

 

VPR BRANDS, LP

(Exact name of registrant as specified in its charter)

 

Delaware 000-54435 45-1740641
(State or other jurisdiction
of incorporation or organization)
(Commission File Number) (IRS Employer
Identification No.)
     

3001 Griffin Road, Fort Lauderdale, FL 33312

(Address of principal executive offices)

 

(954) 715-7001

(Registrant's telephone number, including area code)

 

N/A

(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):

 

  [   ] 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))

 

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 1.01. Entry into a Material Definitive Agreement.

 

On August 16, 2018, VPR Brands, LP (the “Company”) issued a promissory note in the principal amount of $100,001 (the “Sunshine Travel Note”) to Sunshine Travel inc. (“Sunshine Travel”) The principal amount due under the Sunshine Travel Note bears interest at the rate of 24% per annum, permits Sunshine Travel to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on August 16, 2019. The Sunshine Travel Note is unsecured.

 

On August 24, 2018, the Company issued a promissory note in the principal amount of $100,001 (the “Hoff/Frija Note”) to Daniel Hoff and Kevin Frija jointly. Mr. Hoff is the Company’s Chief Operating Officer. Mr. Frija is the Company’s Chief Executive Officer, President, principal financial officer, principal accounting officer and Chairman of the Board, and a significant stockholder of the Company. The principal amount due under the Hoff/Frija Note bears interest at the rate of 24% per annum, permits Messrs. Hoff and Frija to deduct one ACH payment from the Company’s bank account in the amount of $500 per business day until the principal amount due and accrued interest is repaid. Any unpaid principal amount and any accrued interest is due on August 24, 2019. The Hoff/Frija Note is unsecured.

 

The foregoing description of the Sunshine Travel Note and the Hoff/Frija Note is not a complete description of all of the rights and obligations of the parties thereto under the Sunshine Travel Note and the Hoff/Frija Note, respectively, and is qualified in its entirety by reference to the Sunshine Travel Note and the Hoff/Frija Note, copies of which are filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and which are incorporated herein by reference.

 

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

 

On August 16, 2018, the Company issued the Sunshine Travel Note to Sunshine Travel, and on August 24, 2018, the Company issued the Hoff/Frija Note to Messrs. Hoff and Frija jointly. The terms of the Sunshine Travel Note and the Hoff/Frija Note are described in Item 1.01 of this Current Report on Form 8-K, which description is incorporated herein by reference.

 

Item 9.01. Financial Statements and Exhibits.

 

(d)     Exhibits.

 

Exhibit No.   Description
     
10.1   Promissory Note dated August 16, 2018 issued by VPR Brands, LP to Sunshine Travel inc.
10.2   Promissory Note dated August 24, 2018 issued by VPR Brands, LP to Daniel Hoff and Kevin Frija jointly.

 

 

 

 

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.

 

Dated: August 28, 2018 VPR BRANDS, LP
     
  By:   /s/ Kevin Frija
    Kevin Frija
    Chief Executive Officer and Chief Financial Officer