Current Report Filing (8-k)
14 August 2020 - 11:16PM
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 and Exchange Act of 1934
Date
of Report (Date of earliest event reported): August 11, 2020
Healthcare
Integrated Technologies Inc.
(Exact
name of registrant as specified in its charter)
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Nevada
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001-36564
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85-1173741
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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1462
Rudder Lane, Knoxville TN
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37919
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(Address
of principal executive offices)
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(Zip
Code)
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(865)
719-8160
(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 (see General Instruction A.2. below):
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[ ]
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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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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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Common
Stock
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HITC
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OTC
Bulletin Board
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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
August 11, 2020 we agreed to repurchase 1,000,000 shares of our common stock from Acorn Management Partners, LLC (“AMP”).
As consideration for the share repurchase, we issued a $50,000.00 promissory note bearing interest a 6.0% per annum and due
one-year from the date of issuance (the “Note”). In the event we default under the terms of the Note, we are required
to deliver 1,000,000 shares of our common stock back to AMP in full satisfaction of the obligation.
Prior
to the completion of this transaction, AMP owned more than 5% of the outstanding shares of our common stock. After the transaction,
AMP owns less than 5% of the outstanding shares of our common stock. We believe the reduction of AMP’s ownership percentage
below the 5% threshold better positions us for a future uplisting to a national exchange.
The
Promissory Note for the repurchase of our common stock is qualified in its entirety by reference and is filed as Exhibit 10.1
to this report.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
*
Filed herewith.
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.
Date:
August 14, 2020
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Healthcare
Integrated Technologies Inc.
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By:
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/s/
Scott M. Boruff
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Name:
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Scott
M. Boruff
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Title:
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Chief
Executive Officer and Sole
Board member
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EXHIBIT
INDEX
*
Filed herewith.
Healthcare Integrated Te... (PK) (USOTC:HITC)
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