UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Registrant's telephone number, including area code:  214-785-6355

 

Ken Bart, Esq.

Bart and Associates, LLC

8400 East Prentice Avenue

Suite 1500

Greenwood Village, CO 80111

Tel: 720-226-7511

Fax: 720-528-7765

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 ☐

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This Current Report on Form 8-K and other written and oral statements made from time to time by us may contain so-called "forward-looking statements," all of which are subject to risks and uncertainties. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "forecasts," "projects," "intends," "estimates," and other words of similar meaning. One can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address our growth strategy, financial results and product and development programs. One must carefully consider any such statement and should understand that many factors could cause actual results to differ from our forward looking statements. These factors may include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward looking statement can be guaranteed and actual future results may vary materially.

 

Information regarding market and industry statistics contained in this Current Report on Form 8-K is included based on information available to us that we believe is accurate. It is generally based on industry and other publications that are not produced for purposes of securities offerings or economic analysis. We have not reviewed or included data from all sources, and cannot assure investors of the accuracy or completeness of the data included in this Current Report. Forecasts and other forward-looking information obtained from these sources are subject to the same qualifications and the additional uncertainties accompanying any estimates of future market size, revenue and market acceptance of products and services. We do not assume any obligation to update any forward-looking statement. As a result, investors should not place undue reliance on these forward-looking statements.

On February  13, 2018, the Company adopted the 2018 Equity Incentive Plan (the "2018 Plan").  Pursuant to the 2018 Plan, awards may be in the form of Incentive Stock Options ("ISOs"), Non-Qualified Stock Options ("NSOs"), or Restricted Stock Awards.  Up to 8,000,000 shares of common stock can be issued pursuant to the 2018 Plan upon the exercise of options granted pursuant to the 2018 Plan or for shares awarded as Restricted Stock Awards.

On February 13, 2018, the Company granted Non-Qualified Stock Options and Incentive Stock options to the persons, in the amounts, and upon the terms shown below:

The stock options issued to Michael Beavers, Alan Hixon, Bradley Wiggins, and Justin Roby are ISOs, and the options issued to Dennis Cagan, H. William Gordon, Laurence King and Sean McIlrath are NSOs.  The 485,948 stock options issued to Michael Beavers vest at a rate of 1/3 per year.  The remaining stock options issued to Michael Beavers, Alan Hixon, Bradley Wiggins, Justin Roby, Dennis Cagan, H. William Gordon, Laurence King and Sean McIlrath vest at a rate of 1/36^th per month, but will vest 100% upon a change of control transaction.