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 24, 2009
Quuibus Technology, Inc.
(Exact name of registrant as specified in its charter)
Nevada 333-147323 45-0560329
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
114 West Magnolia St., #400 - 136, Bellingham, WA 98225
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (702) 990-8402
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 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS
ITEM 7.01 REGULATION FD DISCLOSURE
On December 24, 2009, we entered into two purchase agreements GeoExplor Corp.
Under the agreements, we have been granted an exclusive exploration license in
regards to the mineral properties described in the agreements. One agreement is
in regards to claims located in Esmeralda County, Nevada for Lithium and Lithium
Carbonate exploration (the "Lithium Agreement"), and one agreement is in regards
to claims located in San Juan County, Utah for Vanadium and Uranium exploration
(the "Van-Ur Agreement"). Pursuant to both Agreements, upon the completion of
the required payments and work commitments, GeoExplor shall transfer title to
the properties to our company and shall retain a 2% royalty, on which we shall
have the option to purchase one-half, or 1%, for $1,000,000.
In regards to the Lithium Agreement we are required to (1) make cash payments of
$490,500 over a four year period, of which initial payments of $115,500 have
been made; (2) issue a total of 1,000,000 restricted shares of common stock over
a three year period, of which 250,000 are issuable immediately; and (3) comply
with a work commitment of $1,000,000 within four years of the date of the
Agreement.
In regards to the Van-Ur Agreement we are required to (1) make cash payments of
$480,000 over a four year period, of which initial payments of $80,000 have been
made; (2) issue a total of 1,000,000 restricted shares of common stock over a
three year period, of which 250,000 are issuable immediately; and (3) comply
with a work commitment of $1,000,000 within four years of the date of the
Agreement.
The foregoing descriptions of the Agreements are qualified entirely by reference
to the copies of said Agreements attached as exhibits to this current report on
Form 8-K.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
10.1 Purchase Agreement dated effective December 24, 2009 between GeoXplor
Corp. and Quuibus Technology Inc.
10.2 Purchase Agreement dated effective December 24, 2009 between GeoXplor
Corp. and Quuibus Technology Inc.
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.
QUUIBUS TECHNOLOGY, INC.
/s/ Glyn R. Garner
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Glyn R. Garner
President and Director
Date: January 20, 2010
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