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DUBL > SEC Filings for DUBL > Form 8-K on 25-Oct-2013All Recent SEC Filings

Show all filings for DUBLI, INC.

Form 8-K for DUBLI, INC.


Unregistered Sale of Equity Securities

Item 3.02. Unregistered Sale of Equity Securities

As previously reported, on June 19, 2013 DubLi, Inc. (the "Company") entered into a Purchase Agreement (the "Agreement") with Michael Hansen, the Chief Executive Officer of the Company, with respect to the sale of 23,000,000 shares of common stock, par value $0.001 per share ("Common Stock"), of the Company at a price of $0.10 per share. On October 15, 2013, 2013, the Company consummated the sale of 2,350,000 shares of Common Stock to Mr. Hansen pursuant to the terms of the Agreement. The Company received cash proceeds in the amount of $235,000. The terms of the Agreement require that Mr. Hansen pay an additional $205,000 in cash and cancel approximately $100,000 in indebtedness owed to Mr. Hansen for an additional 3,050,000 shares of Common Stock. It is anticipated that the Company will consummate the remaining sale to Mr. Hansen by the end of October 2013.

The issuance of the shares of Common Stock to Mr. Hansen was exempt from registration under Regulation S promulgated under the Securities Act of 1933 because the shares were issued outside of the United States to a non-U.S. person (as defined in Regulation S).

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