other material
confidence high
sentiment negative
materiality 0.70
Cyberloq's stock redemption agreement with Mark Carten terminated after payment default
CYBERLOQ TECHNOLOGIES, INC.
- Company failed to pay $163,333.30 due Sept 1, 2022 for redemption of 1,633,333 shares.
- Termination frees 4,900,000 common shares held by Mark Carten from redemption restrictions.
- Common Stock Settlement Liability will be removed from balance sheet.
- Negotiations to revise agreement failed; termination effective Sept 13, 2022.