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DUBL > SEC Filings for DUBL > Form 8-K on 21-Nov-2013All Recent SEC Filings

Show all filings for DUBLI, INC.

Form 8-K for DUBLI, INC.


Unregistered Sale of Equity Securities, Financial Statements and Exhibits

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 30,000,000 shares of common stock, par value $0.001 per share ("Common Stock"), of the Company at a price of $0.10 per share for $3,000,000 which included cash payments totaling $2,300,000 and cancellation of $700,000 of indebtedness owed by the Company to Mr. Hansen. On November 15, 2013, the Company received payment of $55,000 for the sale of 550,000 shares of Common Stock to Mr. Hansen pursuant to the Agreement. Furthermore, on November 15, 2013, the Company received an additional cash contribution from Mr. Hansen of $25,000 for the sale of 250,000 shares, and Mr. Hansen agreed to cancel $50,100 of additional indebtedness owed by the Company for 501,000 shares of Common Stock. This additional cash contribution, cancellation of indebtedness and sale of shares are covered by an amendment to the Agreement with an effective date of November 15, 2013. The terms of the original Agreement require that Mr. Hansen cancel approximately $100,000 in indebtedness owed to Mr. Hansen for an additional 1,000,000 shares of Common Stock.

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

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

Exhibit 10.1 Amendment to the Purchase Agreement

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