We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
NovAccess Global Inc (QB) | USOTC:XSNX | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0008 | -12.70% | 0.0055 | 0.0045 | 0.0069 | 0.006 | 0.0055 | 0.006 | 1,024,403 | 21:07:37 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
| | | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
|
(Address of principal executive offices) (Zip Code) |
(Registrant’s telephone number, including area code)
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:
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 |
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).
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 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
Please see Item 8.01 below for a description of loans received by NovAccess Global Inc. from members of management.
Item 8.01 Other Events.
On September 1, 2023, NovAccess Global Inc. entered into a term sheet with Sumner Investment Group Inc. (“Sumner”) summarizing the terms of a proposed transaction with Sumner in which Sumner would acquire 33.0 million newly issued shares of our unregistered common stock for $0.11 a share, or $3.63 million in total, and loan us $7.05 million in two tranches (collectively, the “transaction”). Sumner is a global company that has created value across a diverse range of assets focusing on the procurement of products and services for governments and corporations around the world with an emphasis on healthcare, defense and logistics.
Although the term sheet expired on September 30, 2023, we continue to work with Sumner to prepare definitive agreements reflecting the terms of the transaction in additional detail. To date, Sumner has not raised the capital necessary to fund the transaction and we have not executed definitive agreements reflecting the transaction. As a result, we cannot guarantee that the transaction will be completed on the terms summarized in the term sheet, when we expect the closing of the transaction to occur, or whether the transaction will close at all.
On December 21, 2023, our chairman of the board John A. Cassarini loaned NovAccess $10,000 to address short-term cash needs. Neil J. Laird, our chief financial officer, has loaned the company $1,000. These loans do not bear interest and do not have a specified due date, but are expected to be paid in full upon completion of the Sumner transaction or other financing.
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 thereunto duly authorized.
NovAccess Global Inc. | |
Dated: December 21, 2023 |
/s/ Dwain K. Irvin By Dwain K. Irvin, Chief Executive Officer |
Document And Entity Information |
Dec. 21, 2023 |
---|---|
Document Information Line Items | |
Entity Registrant Name | NovAccess Global Inc. |
Trading Symbol | N/A |
Document Type | 8-K |
Amendment Flag | false |
Entity Central Index Key | 0001039466 |
Document Period End Date | Dec. 21, 2023 |
Entity Emerging Growth Company | false |
Entity Incorporation, State or Country Code | CO |
Entity File Number | 000-29621 |
Entity Tax Identification Number | 84-1384159 |
Entity Address, Address Line One | 8584 E. Washington Street, No. 127 |
Entity Address, City or Town | Chagrin Falls |
Entity Address, State or Province | OH |
Entity Address, Postal Zip Code | 44023 |
City Area Code | 213 |
Local Phone Number | 213-642-9268 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | None |
Security Exchange Name | NONE |
1 Year NovAccess Global (QB) Chart |
1 Month NovAccess Global (QB) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions