UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 16, 2019
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Genesys Industries, Inc.
(Exact name of registrant as specified in its charter)
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| Florida | 333-213387 | 30-0852686 |
| (State or Other Jurisdiction | (Commission | (I.R.S. Employer |
| of Incorporation) | File Number) | Identification No.) |
1914 24th Ave E
Palmetto, Florida 34221
Tel: 941.722.3600
(Address and telephone number of principal executive offices)
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))
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. ☒
Section 8 – Other Events
Item 8.01. Other Events.
On August 12th, 2019 Genesys Industries, Inc (the “Company”) entered into a new loan agreement with it’s commercial bank lender to finance certain production equipment. The company recently purchased 2 additional machines.
Machine 1: 13,800 Lbs
Machine 2: 14,300 Lbs
Per the bank loan the company paid an estimated 20% down payment and closing fees before the issued loan. The Loan payments are for 60 months at a fixed interest rate of 6.6%.
A copy of the equipment finance agreement is filed herewith as Exhibit 99.1.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits
| Exhibit No. | Description |
| 99.1 | Equipment Finance Agreement |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | Genesys Industries,Inc. |
| | | |
| Date: August 16, 2019 | By: | /s/ Shefali Vibhakar |
| | | Shefali Vibhakar |
| | | President, CFO, Director |
