Current Report Filing (8-k)
21 May 2019 - 4:39AM
Edgar (US Regulatory)
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 20,
2019 (
May 17, 2019
)
ALR TECHNOLOGIES
INC.
(Exact name
of registrant as specified in its charter)
NEVADA
(State or
other jurisdiction of incorporation)
000-30414
(Commission
File No.)
7400 Beaufont
Springs Drive
Suite 300
Richmond,
Virginia 23225
(Address
of principal executive offices) (Zip Code)
(804) 554-3500
(Registrant's
telephone number, including area code)
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):
[ ]
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Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
|
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[ ]
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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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[ ]
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Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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On May 17,
2019, the ALR Technologies Inc. (the “Company” or “ALRT”) Board of Directors approved the grant of the
option to acquire 67,900,000 shares of common stock (the “Option Shares”) of the Company at a price of $0.035 per
share for a term of five years to sixteen (16) parties as follows:
Number
of
Optionees
|
Position
|
Option
Shares Approved
|
Three
(3)
|
Sales
Agent
|
40,000,000
|
One
(1)
|
Member
of the Board of Directors
|
1,000,000
|
Seven
(7)
|
Software
Development Team Member
|
19,700,000
|
One
(1)
|
Manager,
Procurement and Quality Assurance
|
3,000,000
|
Four
(4)
|
Clinical
Team Member
|
4,200,000
|
The 40,000,000
Option Shares will vest when three of the Company’s Sales Agents (the “US Sales Team”) sign up 20,000 ALRT Diabetes
Management Solution customers in the United States of America prior to May 30, 2020 (the “Sales Target”). Meeting
the Sales Target will vest the Option Shares for all members of the US Sales Team.
The 1,000,000
Option Shares approved for grant to a member of the Company’s Board of Directors are to Dr. Alfonso Salas.
Finalization
of the grant of Option Shares to each party is subject to each party executing an option agreement with the Company.
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 this
20th day of May, 2019.
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ALR TECHNOLOGIES INC.
|
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BY:
|
“Sidney
Chan”
|
|
|
Sidney Chan
|
|
|
Principal Executive Officer, Principal Accounting
Officer, Principal Financial Officer, Secretary, Treasurer and Director
|
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