Form 8-K - Current report
07 October 2023 - 1:33AM
Edgar (US Regulatory)
0000856984
false
0000856984
2023-10-05
2023-10-05
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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): October 5, 2023
QHSLab,
Inc.
(Exact
Name of Registrant as Specified in its Charter)
0-19041
(Commission
File No.)
Nevada |
|
30-1104301 |
(State
of
Incorporation) |
|
(I.R.S.
Employer
Identification
No.) |
|
|
|
901
Northpoint Parkway Suite 302 West Palm Beach
FL
33407 |
|
33407 |
(Address of Principal Executive
Offices) |
|
(ZIP Code) |
Registrant’s
telephone number, including area code: (929) 379-6503
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(g) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common Stock, $0.0001
par value |
|
USAQ |
|
N/A |
Item
1.01 Entry into Material Definitive Agreement
On
August 10, 2021, QHSLab, Inc. (the ‘Company”) entered into a Securities Purchase Agreement with Mercer Street Global Opportunity
Fund (“Buyer”), pursuant to which it issued to Buyer the Company’s Original Issue Discount Secured Convertible Promissory
Note in the principal amount of $806,000 (the “Note”). The principal amount of the Note, together with all interest accrued
thereon was initially convertible into shares of common stock of the Company at a conversion price of $0.65 per share. In July 2022,
the Company and the Buyer entered into a Securities Purchase Agreement pursuant to which the Company issued to Buyer the Company’s
Original Issue Discount Secured Convertible Promissory Note in the principal amount of $440,000 (the “Second Note,” collectively
with the Note, the “Notes”). The principal amount of the Second Note, together with all interest accrued thereon is convertible
into shares of common stock of the Company at a conversion price of $0.20 per share. Pursuant to the anti-dilution provisions of the
Note, the price at which the principal amount and interest accrued on the Note can be converted into shares of common stock of the Company
was automatically reduced to $0.20 per share.
On
October 5, 2023, at the request of the Holder, the Company agreed to reduce the conversion price with respect to $10,500 of the amounts
payable pursuant to the Note to two and one-half ($0.025) cents per share. The balance of the amounts payable pursuant to the Note and
the Second Note remain convertible into shares of common stock of the Company at a price of twenty ($0.20) cents per share. The Company
is currently in default of its obligations under the Note and the Second Note and there can be no assurance as to whether the Holder
may seek to exercise its rights under the Notes or seek further concessions from the Company, including a reduction in the conversion
price of additional amounts due under the Notes.
Item
9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d)
Exhibits.
The
exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.
Exhibit
No. |
|
Description |
104 |
|
Cover Page Interactive
Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant
to the requirements of Section 12 of the Securities Exchange Act of 1934, the Registrant has duly caused this current report to be signed
on its behalf by the undersigned, thereunto duly authorized.
Date: October 6, 2023 |
|
|
|
|
QHSLab, Inc. |
|
|
|
|
|
/s/ Troy
Grogan |
|
Name: |
Troy Grogan |
|
Title: |
CEO and Chairman |
|
v3.23.3
Cover
|
Oct. 05, 2023 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Oct. 05, 2023
|
Entity File Number |
0-19041
|
Entity Registrant Name |
QHSLab,
Inc.
|
Entity Central Index Key |
0000856984
|
Entity Tax Identification Number |
30-1104301
|
Entity Incorporation, State or Country Code |
NV
|
Entity Address, Address Line One |
901
Northpoint Parkway
|
Entity Address, Address Line Two |
Suite 302
|
Entity Address, City or Town |
West Palm Beach
|
Entity Address, State or Province |
FL
|
Entity Address, Postal Zip Code |
33407
|
City Area Code |
(929)
|
Local Phone Number |
379-6503
|
Written Communications |
false
|
Soliciting Material |
false
|
Pre-commencement Tender Offer |
false
|
Pre-commencement Issuer Tender Offer |
false
|
Title of 12(b) Security |
Common Stock, $0.0001
par value
|
Trading Symbol |
USAQ
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