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: March 30, 2022
PURE HARVEST CORPORATE GROUP, INC.
(Name of registrant as specified in its charter)
| Colorado | 333-212055 | 71-0942431 |
| State of Incorporation | Commission File Number | IRS Employer Identification No. |
7400 E. Crestline Circle, #130
Greenwood Village, CO 80111
Address of principal executive offices
(800) 924-3716
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:
| [ ] | 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: |
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 [X]
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 13a of the Exchange Act. [X]
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| None | N/A | N/A |
ITEM 1.01. Entry into a Material Definitive Agreement.
On March 29, 2022, the company entered into a forbearance agreement with a majority of its unsecured creditors by debt amount. Under the terms of the agreement, the unsecured creditors will not exercise any of their rights under the various debt instruments against the company for a period of ninety (90) days in order to allow the company to restructure its obligations and operations.
Also, on March 29, 2022, the company entered into a security agreement and guaranty agreement with a majority of its unsecured creditors by debt amount. Under the terms of the agreement, the unsecured creditors were able to collateralize the company’s assets against their outstanding debts, subject to preexisting security agreements with other creditors.
The foregoing summary of the forbearance agreement, the security agreement, and the guaranty agreement (the “Creditor Agreements”) is not complete and is qualified in its entirety by reference to the Creditor Agreements, copies of which are filed as Exhibits 10.13, 10.14 and 10.15.
Item 9.01 Financial Statements and Exhibits
Exhibit No. Description
10.13 Forbearance Agreement
10.14 Security Agreement
10.15 Guaranty Agreement
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
March 30, 2022
PURE HARVEST CORPORATE GROUP, INC.
| By: | /s/ Matthew Gregarek | |
| Matthew Gregarek | ||
| Chief Executive Officer |
