HUMBL settles BizSecure dispute by issuing 127M restricted shares; S-1 registration required

TAP REAL ESTATE TECHNOLOGIES, INC.

Issued 127M restricted shares to BizSecure on July 14, 2023; must file S-1 registration within 60 days.
Share value floor set at $0.0030; if price falls below, company must issue extra shares or pay cash equivalent.
Mutual release of all claims related to the February 2022 asset purchase agreement.
Non-compete and confidentiality provisions modified; BizSecure can repurchase assets for $1 if HUMBL bankrupt or ceases operations.
Company to transfer Vibe Board Pro 75 and reimburse BizSecure's legal fees within 30 days of invoice.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TAP REAL ESTATE TECHNOLOGIES, INC. entered into Settlement Agreement and Mutual Release with BizSecure, Inc., Alfonso Arana, Alfonso Rodriguez-Arana and Clement Danish (effective 2023-07-14).

Action: entry
Agreement: settlement
Counterparty: BizSecure, Inc., Alfonso Arana, Alfonso Rodriguez-Arana and Clement Danish
Effective: 2023-07-14

Exact text from the filing

On July 14, 2023, HUMBL, Inc. (“HUMBL”) entered into a Settlement Agreement and Mutual Release dated July 14, 2023 (the “Settlement Agreement”) with BizSecure, Inc. (“BizSecure”), Alfonso Arana, Alfonso Rodriguez-Arana and Clement Danish to resolve matters arising under the Asset Purchase Agreement dated February 12, 2022 between HUMBL and BizSecure in which HUMBL purchased the assets of BizSecure.

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TAP REAL ESTATE TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001493152-23-025122

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