EXHIBIT 10.1
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: September 26, 2024
TPT Global Tech, Inc. |
(Exact name of registrant as specified in its charter) |
Florida | 333-222094 | 81-3903357 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) |
501 West Broadway, Suite 800, San Diego, CA 92101
(Address of Principal Executive Offices) (Zip Code)
(619) 301-4200
Registrant's telephone number, including area code
(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:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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☐ | 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: None
Title of each Class |
| Trading Symbol |
| Name of each exchange on which registered |
N/A |
| N/A |
| N/A |
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
Vertical Bridge Settlement Agreement and Release
TPT Global Tech, Inc. (“the Company”) has been named in a lawsuit by Vertical Bridge and several of its related entities (“Vertical Bridge”). The claim derived from an outstanding debt or unpaid tower lease payments. The Company was communicating with opposing counsel for negotiations of the claims which amounted to approximately $1,200,000, including payment due for all future tower payments not yet incurred under various tower lease agreements.
On September 26, 2024, the Company and Vertical Bridge entered into a Settlement Agreement and Mutual Release to be paid $210,000 in three payments ending August 30, 2026. Default under the Settlement Agreement and Mutual Release falls under a Confession of Judgement for $210,000, or lessor for any amounts previously paid.
The descriptions of the Settlement Agreement and Mutual Release do not purport to be complete and are qualified in their entirety by reference to the full text of the Settlement Agreement and Mutual Release, copy of the form of which is filed hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 9.01 Exhibits
The following exhibits are filed with this report on Form 8-K.
Exhibit Number |
| Exhibit |
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104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document) |
2 |
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.
| TPT GLOBAL TECH, INC. |
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| By: | /s/ Stephen J. Thomas, III |
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Stephen J. Thomas, III, Title: Chief Executive Officer
Date: October 8, 2024 |
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EXHIBIT 10.1