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): May 20, 2020
ADVANTEGO CORPORATION
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(Exact name of Registrant as specified in its charter)
Colorado 0-23726 84-1116515
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
3801 East Florida Ave., Suite 400, Denver, CO 80210
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (949) 627-8977
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(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 obligations of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17CFR 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-14c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol Name of each exchange on which registered
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None N/A N/A
Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (ss.203.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (ss.204.12b-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. [ ]
Item 1.02 Termination of a Material Definitive Agreement
The Company's largest client has discontinued purchasing digital
controllers ("eLobby") on behalf of their independent network of car collision
shops that were being supplied and supported starting in March of 2018.
Having distributed approximately 1250 units to its national network of
independent collision repair shops, there was also the anticipation of ongoing
annual renewals for the product licensing rights. As such, it is not expected
that any further renewals will be forthcoming.
The Company has attempted to restructure an agreement to sell the products
directly to the shops. There are no guarantees that can be achieved and
therefore, no future revenue can be expected from these relationships. License
renewals that were paid in April 2019 have now expired and would have otherwise
been renewed beginning May 31, 2020. A small amount of revenue will be
recognized in the coming months from old license renewals.
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.
Dated May 20, 2020. ADVANTEGO CORPORATION
By: /s/ Robert W. Ferguson__
Robert W. Ferguson
Chief Executive Officer
