Astra Energy Enters Material Definitive Agreement
Ticker: ASRE · Form: 8-K · Filed: Mar 11, 2024 · CIK: 1231339
| Field | Detail |
|---|---|
| Company | Astra Energy, Inc. (ASRE) |
| Form Type | 8-K |
| Filed Date | Mar 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $500,000, $4,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, corporate-actions
TL;DR
Astra Energy just signed a big deal, could be a game-changer.
AI Summary
On March 11, 2024, Astra Energy, Inc. entered into a material definitive agreement. The company, formerly known as Ocean Smart, Inc., EdgeWater Foods International, Inc., and Heritage Management Inc., is incorporated in Nevada and headquartered in San Diego, California.
Why It Matters
This filing indicates a significant new contract or partnership for Astra Energy, Inc., which could impact its future business operations and financial performance.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks and opportunities, the specifics of which are not detailed in this initial filing.
Key Players & Entities
- Astra Energy, Inc. (company) — Registrant
- March 11, 2024 (date) — Date of Report
- Ocean Smart, Inc. (company) — Former Company Name
- EdgeWater Foods International, Inc. (company) — Former Company Name
- Heritage Management Inc (company) — Former Company Name
- Nevada (jurisdiction) — State of Incorporation
- San Diego, CA (location) — Principal Executive Offices
FAQ
What is the nature of the material definitive agreement entered into by Astra Energy, Inc.?
The filing states that Astra Energy, Inc. entered into a material definitive agreement on March 11, 2024, but the specific details of the agreement are not provided in this initial 8-K filing.
When was the material definitive agreement entered into?
The material definitive agreement was entered into on March 11, 2024.
What were Astra Energy, Inc.'s former company names?
Astra Energy, Inc. was formerly known as Ocean Smart, Inc., EdgeWater Foods International, Inc., and Heritage Management Inc.
In which state is Astra Energy, Inc. incorporated?
Astra Energy, Inc. is incorporated in Nevada.
Where are Astra Energy, Inc.'s principal executive offices located?
Astra Energy, Inc.'s principal executive offices are located at 9565 Waples Street, Suite 200, San Diego, CA 92121.
Filing Stats: 583 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-03-11 08:55:36
Key Financial Figures
- $500,000 — n will make a non-refundable payment of $500,000 to the Company, within 72 hours of exec
- $4,000,000 — tron will provide a promissory note for $4,000,000 with an interest rate of 7.5% with inte
Filing Documents
- asre_8k.htm (8-K) — 25KB
- 0001477932-24-001120.txt ( ) — 142KB
- asre-20240311.xsd (EX-101.SCH) — 6KB
- asre-20240311_lab.xml (EX-101.LAB) — 14KB
- asre-20240311_cal.xml (EX-101.CAL) — 1KB
- asre-20240311_pre.xml (EX-101.PRE) — 9KB
- asre-20240311_def.xml (EX-101.DEF) — 2KB
- asre_8k_htm.xml (XML) — 4KB
01
Item 1.01 Entry into a Material Definitive Agreement On March 08, 2024, Astra Energy Inc. (the " Company ") entered into a Joint Venture Agreement (the " Agreement ") with Powertron Global LLC (" Powertron "). The Company is the majority owner of Regreen Technologies Inc. (" Regreen "), which holds patents related to the processing of waste-to-energy (the " Patents "). Pursuant to the Agreement, the Company and Powertron will create a new entity under which all of the Company's patents held by the Company (" Newco ") and will assign the Patents from Regreen to Newco. In consideration of the Agreement: Powertron will make a non-refundable payment of $500,000 to the Company, within 72 hours of execution of the Agreement; and Powertron will make payment of $500,000 to the Company, upon closing of the transaction in 60 days; and Powertron will provide a promissory note for $4,000,000 with an interest rate of 7.5% with interest only monthly payments and a six-month term or as otherwise mutually agreed to. Newco will issue to the Company 4,000,000 shares of common stock of an initial 10,000,000 shares of common stock outstanding in the Newco, along with a plan for the public listing. Newco will provide an assurance that the Company will not be diluted below an equity position of 19.9% for the first 12 months from the date of closing, or as otherwise mutually agreed to. 2
SIGNATURES
SIGNATURES 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 hereunto duly authorized. ASTRA ENERGY, INC. Dated: March 11, 2024 By: /s/ Ronald W. Loudoun Ronald W. Loudon CEO 3