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): April
2, 2021
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SOLLENSYS CORP
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(Exact
name of registrant as specified in its charter)
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Nevada
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333-174581
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80-0651816
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(State
or other jurisdiction
of
incorporation or organization)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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2475 Palm Bay Rd. NE, Suite 120
Palm Bay, FL 32905
(Address of principal executive offices)
(866) 438-7657
(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))
Securities registered pursuant to Section 12(b) of the
Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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N/A
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N/A
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N/A
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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 April 2, 2021, Sollensys Corp
(the “Company”) entered into that certain Commercial
Contract (the “Contract”) by and between the Company
and MRIGlobal (the “Seller”) pursuant to which the
Company agreed to purchase (the “Purchase”) certain
property located at 1470 Treeland Blvd. SE, Palm Bay, FL 32909 (the
“Property”) from the Seller for a purchase price of
$2,500,000. Pursuant to the terms of the Contract, the Company paid
a $75,000 deposit to be held in escrow. The Property will be used
as the Company’s headquarters. The Purchase was scheduled to
close on May 27, 2021.
The
Consulting Agreement includes customary representations and
warranties and closing conditions. Among other things, the closing
of the Purchase is subject to a due diligence period of 45 days
following April 2, 2021.
On
April 27, 2021, the Company and the Seller entered into an Addendum
to Contract (the “Addendum”). Pursuant to the terms of
the Addendum, the end of the due diligence period is May 17, 2021
and the closing date of the Purchase is on or before May 27,
2021.
The
foregoing description of the Contract and the Addendum is qualified
in its entirety by reference to the Contract and the Addendum,
filed as Exhibits 10.1 and 10.2 hereto, respectively, which are
incorporated herein by reference.
Item 7.01. Regulation FD Disclosure.
On
April 28, 2021, the Company issued a press release announcing that
the Company had entered into an agreement to purchase the Property
to be used as the Company’s headquarters.
The
information included in this Item 7.01, including Exhibit 99.1,
shall not be deemed to be “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), or otherwise subject to the
liabilities of that section, nor shall such information be deemed
incorporated by reference in any filing under the Securities Act of
1933, as amended, or the Exchange Act, except as shall be expressly
set forth by specific reference in such a filing. The information
set forth under this Item 7.01 shall not be deemed an admission as
to the materiality of any information in this Current Report on
Form 8-K that is required to be disclosed solely to satisfy the
requirements of Regulation FD.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits
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Exhibit No.
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Description
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Commercial
Contract, entered into on April 2, 2021 by and between the
registrant and MRIGlobal.
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Addendum
to Contract, entered into on April 27, 2021, by and between the
registrant and MRIGlobal.
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Press
release of the registrant dated April 28, 2021.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this amended report to be
signed on its behalf by the undersigned hereunto duly
authorized.
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SOLLENSYS CORP
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Dated:
April 28, 2021
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By:
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/s/ Donald Beavers
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Donald
Beavers
Chief
Executive Officer
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Sollensys Corp Announces Agreement to Purchase Lab
Facilities
Company to Acquire 35,793 Sq. Ft. Building as New
Headquarters
Palm Bay, Fl. April 28, 2021 (ACCESSWIRE)
Sollensys Corp (OTC: SOLS), a Florida based blockchain solutions
company offering products that ensure its clients’ data
integrity through collection, storage and transmission, has
contracted to purchase a state-of-the-art scientific research
laboratory situated in the Foundation Research Park in Palm Bay,
Florida.
There
is an administration wing as well as numerous laboratory rooms
throughout the building. The laboratory rooms all have positive air
pressure for a clean room effect. Additional features
include:
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Building Size:
36,810 total sq. ft.
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Back-up emergency
power generation
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Sensitive
Compartmented Information Facility (SCIF) communications
area
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HVAC: 100% air
conditioned
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Construction:
concrete block
Sollensys
Corp currently leases about 8,000 sq. ft. in Palm Bay, Florida's
Innovation Centre in the Space Coast's high-tech corridor. The new
headquarters facility is expected to provide enough space to handle
all of Sollensys Corp’s data storage needs in-house for at
least three years.
Don
Beavers, Chairman and CEO of Sollensys Corp, stated, “We are
excited to have the opportunity to expand our facilities to better
service our growing client base. We have placed heavy emphasis on
planning the expansion of our infrastructure to handle the growing
need for blockchain services in the market. This new facility
should provide a competitive advantage in the
marketplace.”
The
building purchase is set to close in late May 2021. Closing is
subject to certain conditions, including inspection results and
approval. More information and images of the building can be found
online at:
https://www.loopnet.com/Listing/1470-Treeland-Blvd-SE-Palm-Bay-FL/16626243/
About Sollensys Corp:
Sollensys
Corp is a math, science, technology, and engineering solutions
company offering products that ensure its clients' data integrity
through collection, storage, and transmission. Our innovative
flagship product is the Blockchain Archive Server, a turn-key,
off-the-shelf, blockchain solution that works with virtually any
hardware and software combinations currently used in commerce,
without the need to replace or eliminate any part of the client's
data security that is being utilized. The company recently
introduced our second product offering-the Regional Service Center,
which offers small businesses the same state of the art technology
previously available only to large or very well-funded
companies.
Headquartered
in Palm Bay, Florida, the Company’s primary product is
the Blockchain Archive Server—a turn-key, off-the-shelf,
blockchain solution that works with virtually any hardware and
software combinations currently used in commerce, without the need
to replace or eliminate any part of the client's data security that
is being utilized.
The
Blockchain Archive Server encrypts, fragments and distributes data
across thousands of secure nodes every day, which makes it
virtually impossible for hackers to compromise. Using blockchain
technology, the Blockchain Archive Server maintains a redundant,
secure and immutable backup of data. Redundant backups and the
blockchain work together to assure not only the physical security
of the database but also the integrity of the information held
within.
Blockchain
Archive Server protects client data from
“ransomware”—malicious software that infects your
computer and displays messages demanding a fee to be paid in order
for your system to work again. Blockchain technology is a
leading-edge tool for data security, providing an added layer of
security against data loss due to all types of software
specifically designed to disrupt, damage, or gain unauthorized
access to a computer system (i.e., malware).
Uniquely,
the Blockchain Archive Server is a turn-key solution that can stand
alone or seamlessly integrate into an existing data infrastructure
to quickly recover from a cyber-attack. The Blockchain Archive
Server is a server that comes pre-loaded with the
blockchain-powered cybersecurity software, which can be delivered,
installed and integrated into a client’s computer systems
with ease.
Sollensys Corp.
866.438.7657
www.sollensys.com
info@sollensys.com
https://business.facebook.com/Sollensys/
https://www.linkedin.com/company/sollensys-corp/
SOURCE: Sollensys Corp
