false 0001362516 0001362516 2024-08-01 2024-08-01 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

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): August 1, 2024 (August 5, 2024)

 

CLEARTRONIC, INC.
(Exact name of registrant as specified in its charter)

 

Florida   000-55329   65-0958798

(State or other jurisdiction

of incorporation)

  

(Commission

File Number)

  

(IRS Employer

Identification No.)

 

28050 US Hwy 19 N, Suite 310, Clearwater, FL 33761

(Address of principal executive offices)   (Zip Code)

 

Registrant's telephone number, including area code: 813-289-7620

 

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:

 

Title of each class   Trading Symbol(s)   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 checkmark 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. ☐

 -1- 

 

Item 1.01 - Entry into a Material Agreement.

 

On August 1, 2024, the Company entered into an Agreement to acquire the assets, current clients, and agreed to retain certain employees of Alastar (“Alastar”), a software platform founded by and jointly owned by Advanced Technology International, a nonprofit corporation, and the South Carolina Research Authority, a South Carolina nonprofit corporation. Under the terms of the agreement, Cleartronic receives the intellectual properties, trademarks, software platform and other assets of Alastar, along with their client base. The Company also retained Alastar’s employee group which will eliminate having to use outside technical resources. The immediate financial impact on the Company will be an increase in cash offset by an increase in deferred revenue without assuming any other liabilities.

 

On August 5, 2024, all terms were satisfied, and the agreement was closed.

 

Item 9.01 Financial Statements and Exhibits

 

(a) The following Exhibit is being filed with this Current Report on Form 8-K:

 

Exhibit    
Number   Description
     
10.01   Asset Purchase Agreement between Cleartronic, Inc. and Advanced Technology International and the South Carolina Research Authority
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

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 thereunto duly authorized.

 

Date: August 7, 2024 CLEARTRONIC, INC.
     
  By: /s/Michael M. Moore
    Michael M. Moore
    Chief Executive Officer
     
  By: /s/Larry Reid
    Larry Reid
    Chief Financial Officer

 -2- 

 

Exhibit 10.01

[ex1001001.jpg]

[ex1001002.jpg]

[ex1001003.jpg]

[ex1001004.jpg]

[ex1001005.jpg]

[ex1001006.jpg]

[ex1001007.jpg]

[ex1001008.jpg]

[ex1001009.jpg]

[ex1001010.jpg]

[ex1001011.jpg]

[ex1001012.jpg]



[ex1001013.jpg]

[ex1001014.jpg]

[ex1001015.jpg]


v3.24.2.u1
Cover
Aug. 01, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 01, 2024
Entity File Number 000-55329
Entity Registrant Name CLEARTRONIC, INC.
Entity Central Index Key 0001362516
Entity Tax Identification Number 65-0958798
Entity Incorporation, State or Country Code FL
Entity Address, Address Line One 28050 US Hwy 19 N
Entity Address, Address Line Two Suite 310
Entity Address, City or Town Clearwater
Entity Address, State or Province FL
Entity Address, Postal Zip Code 33761
City Area Code 813
Local Phone Number 289-7620
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Cleartronics (PK) (USOTC:CLRI)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Cleartronics (PK) Charts.
Cleartronics (PK) (USOTC:CLRI)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Cleartronics (PK) Charts.