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): December 21, 2016
CANNASYS, INC. | ||||
(Exact name of registrant as specified in its charter) | ||||
Nevada | 000-54476 | 88-0367706 | ||
(State or other jurisdiction of | (Commission File Number) | (IRS Employer | ||
incorporation or organization) | Identification No.) | |||
1350 17th Street, Suite 150 | ||||
Denver, Colorado | 80202 | |||
(Address of principal executive offices) | (Zip code) | |||
Registrant's telephone number, including area code: | Phone: (720) 420-1290 | |||
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:
☐ | 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)) |
ITEM 3.02—UNREGISTERED SALES OF EQUITY SECURITIES
From December 21, 2016, through January 17, 2017, CannaSys, Inc. issued 367,223,148 shares of its common stock to various investors pursuant to the terms of their respective outstanding convertible promissory notes. The convertible promissory notes were issued in reliance on the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended, for transactions not involving any public offering. Each of the investors is either an "accredited investor" as defined in Rule 501(a) of Regulation D or a sophisticated investor able to bear the risks of the investment. No underwriter participated in the offer and sale of these securities, and no commission or other remuneration was paid or given directly or indirectly in connection therewith.
The following table reflects the amounts of principal converted, and the corresponding number of shares issued, in connection with outstanding convertible promissory notes for the days in December, 2016:
Date | Note Holder | Price | Shares Issued | Amount Converted | |
12/21/2016 | Adar Bays LLC | $0.0008 | 8,750,000 | $ 7,000.00 | |
12/21/2016 | EMA Financial LLC | 0.001 | 10,632,000 | 10,632.00 | |
12/22/2016 | Black Forest Capital LLC | 0.0008 | 7,800,000 | 6,240.00 | |
12/27/2016 | EMA Financial LLCs | 0.001 | 12,470,000 | 12,470.00 | |
12/27/2016 | Adar Bays LLC | 0.0016 | 11,677,419 | 18,100.00 | |
12/28/2016 | Microcap Equity Group LLC | 0.0008 | 9,333,333 | 7,000.00 | |
12/28/2016 | Adar Bays LLC | 0.0008 | 12,076,129 | 9,359.00 | |
12/28/2016 | Adar Bays LLC | 0.0008 | 13,281,290 | 10,293.00 | |
12/28/2016 | Black Forest Capital LLC | 0.0008 | 7,452,710 | 5,775.85 | |
12/28/2016 | EMA Financial LLC | 0.001 | 13,714,000 | 13,714.00 | |
12/29/2016 | Adar Bays LLC | 0.008 | 16,069,355 | 12,453.75 | |
12/30/2016 | Adar Bays LLC | 0.008 | 16,000,000 | 12,000.00 | |
139,256,236 | $125,037.60 |
On December 29, 2016, we issued 1,500,000 shares of our common stock to B44 LLC in exchange for services rendered and valued at $3,000.
On December 29, 2016, we issued 200,000 shares of our common stock to Rachel Bould in exchange for services rendered and valued at $200.
On December 29, 2016, we issued 200,000 shares of our common stock to Michael Beck in exchange for services rendered and valued at $200.
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The following table reflects the amounts of principal converted, and the corresponding number of shares issued, in connection with outstanding convertible promissory notes for the days in January, 2017:
Date | Note Holder | Price | Shares Issued | Amount Converted | |
01/03/2017 | EMA Financial LLC | $0.001 | 17,400,000 | $ 17,400.00 | |
01/04/2017 | EMA Financial LLC | 0.001 | 19,200,000 | 19,200.00 | |
01/05/2017 | Black Forest Capital LLC | 0.0008 | 10,000,000 | 7,750.00 | |
01/05/2017 | Adar Bays LLC | 0.0008 | 18,637,742 | 14,444.25 | |
01/06/2017 | EMA Financial LLC | 0.001 | 21,704,000 | 21,704.00 | |
01/11/2017 | Black Forest Capital LLC | 0.0008 | 15,000,000 | 11,625.00 | |
01/13/2017 | Microcap Equity Group LLC | 0.0008 | 22,851,306 | 17,138.48 | |
01/13/2017 | Black Forest Capital LLC | 0.0008 | 20,000,000 | 15,500.00 | |
01/13/2017 | EMA Financial LLC | 0.001 | 24,556,110 | 24,556.11 | |
01/17/2017 | Black Forest Capital LLC | 0.0008 | 22,000,000 | 17,050.00 | |
01/17/2017 | Tangiers Investment Group LLC | 0.0007 | 21,569,061 | 15,044.42 | |
01/17/2017 | Microcap Equity Group LLC | 0.0008 | 13,148,693 | 9,861.52 | |
01/18/2017 | Black Forest Capital LLC | 0.0008 | 22,500,000 | 17,437.50 | |
01/18/2017 | Kodiak Capital Group LLC | 0.0004 | 52,000,000 | 20,800.00 | |
300,566,912 | $229,511.28 |
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.
CANNASYS, INC. | ||
Dated: January 19, 2017 | By: | /s/ Michael A. Tew |
Michael A. Tew, Chief Executive Officer |
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