UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934
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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).
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Forward-Looking Statements
This Form 8-K and other reports filed by the Registrant from time to time with the Securities and Exchange Commission (collectively, “Filings”) contain or may contain forward-looking statements and information that are based upon beliefs of, and information currently available to, our management as well as estimates and assumptions made by our management. When used in the filings, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions identify forward-looking statements as they relate to our business or our management. Such statements reflect management’s current view of our business with respect to future events and are subject to risks, uncertainties, assumptions, and other factors (including the risks contained in the section of our Annual Report filed on Form 10-K entitled “Risk Factors”) relating to our industry, operations, and results of operations, and other relevant aspects of our business. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned.
Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements contained within this Form 8-K and elsewhere.
Item 5.02 |
| Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On October 31, 2022, SecureTech Innovations, Inc. (“SecureTech”) terminated the employment of Ken Salway for failure to meet minimum sales quotas. Mr. Salway served as SecureTech’s Vice President of Sales between May 16, 2022 and October 31, 2022.
On November 8, 2022, SecureTech and Mr. Salway entered into a general Termination and Liability Release Agreement, formally terminating SecureTech’s obligations under the Employment Agreement entered on May 16, 2022.
Item 3.02 |
| Unregistered Sales of Equity Securities |
On October 31, 2022, SecureTech canceled 1,500,000 options held by Mr. Salway to purchase shares of SecureTech’s common stock, $0.001 par value, at a fixed price of $1.35 per share. None of these options had vested at the time of cancellation.
As of November 8, 2022, SecureTech had no remaining options to purchase shares of its common stock issued and outstanding.
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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: November 8, 2022 |
By: | SECURETECH INNOVATIONS, INC.
/s/ Kao Lee |
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| President, Chief Executive Officer, Principal Executive Officer, and Director |
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