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EX-10.1 - VPR Brands, LP.ex10-1.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): December 13, 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 December 13, 2018, VPR Brands, LP (the “Company”) issued a promissory note in the principal amount of $100,001 (the “December 2018 Frija/Hoff Note”) to Kevin Frija and Dan Hoff. 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. Mr. Hoff is the Company’s Chief Operating Officer. The principal amount due under the December 2018 Frija/Hoff Note bears interest at the rate of 24% per annum, permits Messrs. Frija and Hoff 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 December 13, 2019. The December 2018 Frija/Hoff Note is unsecured.

 

The foregoing description of the December 2018 Frija/Hoff Note is not a complete description of all of the rights and obligations of the parties thereto under the December 2018 Frija/Hoff Note, and is qualified in its entirety by reference to the December 2018 Frija/Hoff Note, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and which is 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 December 13, 2018, the Company issued the December 2018 Frija/Hoff Note to Messrs. Frija and Hoff. The terms of the December 2018 Frija/Hoff 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    
Number   Description
     
10.1   Promissory Note dated December 13, 2018 issued by VPR Brands, LP to Kevin Frija and Dan Hoff.

 

 
 

 

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: December 14, 2018 VPR BRANDS, LP
     
  By: /s/ Kevin Frija
    Kevin Frija
    Chief Executive Officer and Chief Financial Officer