UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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 26,
2021
EXACTUS, INC.
(Exact
name of the registrant as specified in its charter)
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Nevada
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000-55828
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27-1085858
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(State
or other jurisdiction of
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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80 NE 4th Avenue, Suite 28, Delray Beach, FL 33483
(Address
of principle executive offices) (Zip code)
Registrant’s
telephone number, including area code: (561) 455-4822
_____________________________________________________________________
(Former
name or 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 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. ☐
Section 1 – Registrant’s Business and
Operations
Item
1.01
Entry
Into a Material Definitive Agreement.
On
April 26, 2021, we received a loan in the principal amount of
$236,410 from the U.S. Small Business Administration under the
Paycheck Protection Program. The loan, which is documented by a
Note and Loan Agreement, bears interest at a rate of 1% per year
and is due in five (5) years. No payments under the Note are due
during the time that payments are deferred under the Coronavirus
Aid, Relief, and Economic Security Act, Paycheck Protection Program
Flexibility Act of 2020, and the Economic Aid to Hard-Hit Small
Businesses, Nonprofits, and Venues Act (the “Act”). One
month after the deferral period provided under the Act expires, we
will be required to make monthly payments of principal and interest
in such equal amounts as are required to fully amortize the loan by
the maturity date. The Note may be prepaid at any time without
penalty. Upon fulfillment of conditions for forgiveness provided by
the Paycheck Protection Program under the Act, the loan may be
forgiven in whole or in part.
The
foregoing is a summary of the material terms of the Note and Loan
Agreement. These documents, which are filed herewith as Exhibit
10.1, should be reviewed in their entirety for additional
information.
Section 9 – Financial Statements and Exhibits
Item. 9.01. Financial Statements and Exhibits.
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Exhibit No.
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Description
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Note and Loan Agreement
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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 behalf of the
undersigned hereunto duly authorized.
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EXACTUS,
INC.
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Date:
April 30, 2021
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By:
/s/ Alvaro Daniel
Alberttis
Alvaro
Daniel Alberttis
Principal
Executive Officer
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