Current Report Filing (8-k)
29 March 2022 - 11:02PM
Edgar (US Regulatory)
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2022-03-29
2022-03-29
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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): March 29, 2022
SOLLENSYS CORP |
(Exact
name of registrant as specified in its charter) |
Nevada |
|
333-174581 |
|
80-0651816 |
(State
or other jurisdiction of
incorporation or organization) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
2475 Palm Bay Rd. NE, Suite 120
Palm Bay, FL 32905
(Address
of principal executive offices)
(866)
438-7657
(Registrant’s
telephone number, including area code)
N/A
(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):
☐ |
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 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
7.01. Regulation FD Disclosure.
On
March 29, 2022, Sollensys Corp (the “Company”) issued a press release announcing entry into an agreement with Smart City
Capital. Smart City Capital provides cities of all sizes the power to become smart, connected, and resilient, reducing the existing digital
divide. Pursuant to the terms of the agreement, Smart City Capital agreed to purchase three of the Company’s Regional Service Centers
that will provide blockchain based data archives for multiple cities. The equipment purchase represents a $2.25 million investment by
Smart City Capital in infrastructure to be financed and hosted by the Company over a five-year period. The agreement also includes a
commitment by Smart City Capital to utilize multiple petabytes of blockchain storage space at a cost of approximately $2 million annually,
for a $4.25 million total initial commitment.
The
agreement was initiated and coordinated through Acadia Leadership Partners (“Acadia”), an industry channel network and independent
member of BDO Alliance USA. The Company will pay Acadia a standard commission representing 40% of the equipment fees collected, pursuant
to the agreement, by the Company and a percentage of the hosting fees pursuant to the agreement.
The
information included in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section
18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that
section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth under this
Item 7.01 shall not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required
to be disclosed solely to satisfy the requirements of Regulation FD.
Item
9.01 Financial Statement and Exhibits.
(d)
Exhibits
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.
|
SOLLENSYS
CORP |
|
|
|
Dated:
March 29, 2022 |
By: |
/s/
Donald Beavers |
|
|
Donald
Beavers
Chief Executive Officer |
Sollensys (CE) (USOTC:SOLS)
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