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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Clubhouse Media Group Inc (PK) | USOTC:CMGR | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0002 | 0.0002 | 0.0003 | 0.0002 | 0.0002 | 0.0002 | 2,000,036 | 13:13:28 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
(State or other jurisdiction | (Commission | (IRS Employer | ||
of incorporation) | File Number) | Identification No.) |
(Address of principal executive offices) | (Zip Code) |
Registrant’s
telephone number, including area code
(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 (see General Instruction A.2. below):
Written communications 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)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
N/A | 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 (§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 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 1.01. Entry into a Material Definitive Agreement.
On August 9, 2023, Clubhouse Media Group, Inc. (the “Company”) entered into a Debt Exchange Agreement (the “Agreement”) by and between the Company and Amir Ben-Yohanan, the Company’s Chief Executive Officer (the “Creditor”). The Agreement arises from a previously advances funds from the Creditor to the Company in the amount of $1,197,500 (the “Indebtedness”), which Indebtedness is not represented by a promissory note or other instrument, but which is acknowledged to be owed by the Company to the Creditor. Pursuant to the terms of the Agreement, the Company has agreed to issue Mr. Ben-Yohanan 5,987,500,000 total Shares at $0.0002 per share, of the Company Common Stock, par value $0.000001 per share (the “Common Stock”) in exchange for forgiveness of the Indebtedness.
The total dollar amount owed to the Creditor is $1,197,500 as of the date of the Agreement, and the 5,987,500,000 shares issued on August 9, 2023 are full and complete payment of certain debt owed by the Company to the Creditor, in the principal sum of $1,197,500. Accordingly, on August 9, 2023, the shares were issued and the aforementioned debt was settled.
Item 1.02. Termination of a Material Definitive Agreement.
The disclosure set forth under Item 1.01 above is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit | ||
Number | Description | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
2 |
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 thereunto duly authorized.
Date: August 14, 2023 | CLUBHOUSE MEDIA GROUP, INC. | |
By: | /s/ Amir Ben-Yohanan | |
Amir Ben-Yohanan | ||
Chief Executive Officer |
3 |
Cover |
Aug. 09, 2023 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Aug. 09, 2023 |
Entity File Number | 333-140645 |
Entity Registrant Name | CLUBHOUSE MEDIA GROUP, INC. |
Entity Central Index Key | 0001389518 |
Entity Tax Identification Number | 99-0364697 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 3651 Lindell Road |
Entity Address, Address Line Two | D517 |
Entity Address, City or Town | Las Vegas |
Entity Address, State or Province | NV |
Entity Address, Postal Zip Code | 89103 |
City Area Code | (702) |
Local Phone Number | 479-3016 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
1 Year Clubhouse Media (PK) Chart |
1 Month Clubhouse Media (PK) Chart |
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