Attached files
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| EX-10.1 - FORM OF COMMON STOCK PURCHASE AGREEMENT - Skkynet Cloud Systems, Inc. | skky_ex101.htm |
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): January 2, 2014
SKKYNET CLOUD SYSTEMS, INC.
(Exact Name of Registrant as Specified in its Charter)
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Nevada
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000-54747
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45-3757848
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(State or Other
Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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20 Bay Street – Suite 1100, Toronto, Ontario, Canada M5J 2N8
(Address of Principal Executive Office) (Zip Code)
Registrant’s telephone number, including area code: (888) 628-2028
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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 1.01
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Entry into a Material Definitive Agreement
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On January 2, 2014, Skkynet Cloud Systems, Inc. (the “Company”) entered into common stock purchase agreements with various accredited investors for the sale of an aggregate of 510,000 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”) with gross proceeds to the Company of $369,750.00. The proceeds from this offering will be used to further develop the Company’s real-time cloud business operations. The purchase price of each share of Common Stock was $0.725 per share. The Company expects the closing of all of the sales of the Common Stock to occur by January 15, 2014. All shares of Common Stock issued will be “restricted” securities as such term is defined by the Securities Act of 1933, as amended (the “Securities Act”).
The shares of Common Stock will be issued in reliance upon an exemption from registration provided by Rule 506 of Regulation D of the Securities Act since no general solicitation or advertising was conducted by us in connection with the offering of any of the shares, all shares to be purchased in the offering will be restricted in accordance with Rule 144 of the Securities Act and each of these shareholders are accredited as defined in Rule 501 (a) of Regulation D promulgated under the Securities Act.
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Exhibit No.
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Description of Exhibit
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10.1*
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Form of Common Stock Purchase Agreement
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__________
*filed herewith
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
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SKKYNET CLOUD SYSTEMS, INC.
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January 8, 2014
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By:
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/s/ Paul E. Thomas
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Paul E. Thomas
President and Secretary
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