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): May 1, 2017

Sport Endurance, Inc.
(Exact name of registrant as specified in its charter)

Nevada
 
333-161943
 
26-2754069
(State or other Jurisdiction of Incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)
 
222  Broadway, 19th Floor, New York, NY
 
10038
(Address of principal executive offices)
 
(Zip Code)
 
Registrant’s telephone number, including area code: (646) 846-4280

Former Address: N/A

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:

☐ 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 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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 May 1, 2017 and May 2, 2017, Sport Endurance, Inc. (the “Company”) entered into Forbearance Agreements, effective as of April 28, 2017, with two holders (the “Lenders”) of the Company’s 10% Senior Secured Convertible Promissory Notes (the “Notes”) in the aggregate principal amount of $494,340, pursuant to which the Company and the Lenders agreed to extend the due date of the Notes to June 2, 2017.

Item 9.01   Financial Statements and Exhibits .

(d) Exhibits.

Exhibit No.                Exhibit

10.1            Form of Forbearance Agreement


 


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.

 
SPORT ENDURANCE, INC.
 

Date: May 4, 2017
By:  /s/ David Lelong
Name:  David Lelong
Title:  Chief Executive Officer




 
 
Exhibit 10.1

Sport Endurance, Inc.
222 Broadway, 19th Floor
New York, NY 10038


May 1, 2017



Re:            Sport Endurance, Inc. / Forbearance on Senior Secured Promissory Notes

Dear Sirs:

This letter agreement (the “Agreement”) acknowledges that in exchange for Sport Endurance, Inc. (the “Company”) paying ______________  $10 and other good and valuable consideration, receipt of which is acknowledged, ____ extends the due date of  the 10% Senior Secured Promissory Note (the “Senior Note”), to and including 5:00 pm on June 2, 2017, the “Due Date”).

Without modifying or amending the terms of the Senior Note, the Security Agreement or the Purchase Agreement , ____ agrees to forebear and not to seek collection against the Company of any amounts due under the Senior Note,   Security Agreement or Purchase Agreement through and until the Due Date. The period of forbearance provided in this Agreement shall terminate on the Due Date if the amount due under the Senior Note is not paid within that period.

Except as modified by this Agreement, the Company hereby ratifies and confirms the terms and provisions of the Senior Note, the Security Agreement and the Purchase Agreement. The Senior Note , Security Agreement, Purchase Agreement and all other agreements, instruments and other documents executed in connection with the obligations of the Company under the Senior Note are legal, valid, binding and enforceable against the Company in accordance with their terms.

Any number of counterparts of this Agreement may be signed and delivered, each of which shall be considered an original and all of which, together, shall constitute one and the same instrument.

Please sign below evidencing your agreement to be bound by this Agreement and return to us.


Very truly yours,


_________________________
David Lelong
President and CEO

We hereby agree to the foregoing:

______________________________


By: