Attached files
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| EX-10.1 - INVESTMENT RETURN PURCHASE AGREEMENT - GLOBAL DIGITAL SOLUTIONS INC | gdsi_ex101.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
DC 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): May 15, 2018
GLOBAL DIGITAL SOLUTIONS, INC.
(Exact
name of registrant as specified in its charter)
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New Jersey
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000-26361
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22-3392051
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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777 South Flagler Drive, Suite 800 West
West Palm Beach, Florida 33401
(Address
of principal executive offices)
Registrant’s
telephone number, including area code: (775) 443-4740
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
communication 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 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 checkmark 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. [ ]
Item 1.01 Entry Into a Material Definitive Agreement.
On
May 15, 2018, Global Digital Solutions, Inc. (the
“Company”) entered into an Investment Return Purchase
Agreement with an accredited investor (the “Purchaser”)
for proceeds of $200,000 (the “Investment Agreement”).
Under the terms of the Investment Agreement, the Company agreed to
pay the Purchaser a 10% return, or $20,000 (the “Investment
Return”) within three (3) months from the date of the
Investment Agreement. Such Investment Return shall be paid earlier
if the Company secures funding totaling $500,000 within 90 days
from the date of the Investment Agreement. In addition, the Company
agreed to issue to the Purchaser 2,000,000 warrants to purchase
common stock of the Company at an exercise price of $0.01 per
share, exercisable for a period of three (3) years.
The
foregoing descriptions of the Investment Agreement are summaries,
and are qualified in their entirety by reference to such documents,
which is attached hereto as Exhibit 10.1 and is incorporated herein
by reference.
Item 2.03. Creation of a Direct Financial Obligation or an
Obligation Under an Off-Balance Sheet Arrangement of a
Registrant.
The
information set forth in Item 1.01 is incorporated herein by
reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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Exhibit Number
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Description
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Investment
Return Purchase Agreement dated May 15, 2018
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SIGNATURE
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.
Dated:
May 18, 2018
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GLOBAL DIGITAL SOLUTIONS, INC.
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By:
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/s/ William Delgado
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Name:
William Delgado
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Title:
Chief Executive Officer
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