Astra Energy Reports Agreement Termination & Officer Changes
Ticker: ASRE · Form: 8-K · Filed: Dec 6, 2024 · CIK: 1231339
| Field | Detail |
|---|---|
| Company | Astra Energy, Inc. (ASRE) |
| Form Type | 8-K |
| Filed Date | Dec 6, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1,000,000, $4,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, management-change, corporate-governance
TL;DR
Astra Energy terminated a key deal and shuffled execs. Big changes ahead?
AI Summary
Astra Energy, Inc. announced on December 2, 2024, the termination of a material definitive agreement and changes in its board of directors and officer appointments. The company also reported on compensatory arrangements for certain officers. Specific details regarding the agreement and the individuals involved were not provided in this excerpt.
Why It Matters
This filing indicates significant corporate restructuring and potential shifts in operational strategy for Astra Energy, which could impact its future performance and investor outlook.
Risk Assessment
Risk Level: medium — The termination of a material definitive agreement and changes in leadership suggest potential instability or strategic pivots that carry inherent risks.
Key Players & Entities
- Astra Energy, Inc. (company) — Registrant
- December 2, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 000-52205 (identifier) — Commission File Number
- 20-3113571 (identifier) — IRS Number
FAQ
What was the material definitive agreement that was terminated?
The filing states that a material definitive agreement was terminated, but the specific details of this agreement are not provided in the excerpt.
When did the termination of the material definitive agreement occur?
The earliest event reported is December 2, 2024, which includes the termination of a material definitive agreement.
What changes were made regarding directors or officers?
The filing indicates the departure of directors or certain officers, the election of directors, and the appointment of certain officers.
What is Astra Energy, Inc.'s state of incorporation?
Astra Energy, Inc. is incorporated in Nevada.
What is the Commission File Number for Astra Energy, Inc.?
The Commission File Number for Astra Energy, Inc. is 000-52205.
Filing Stats: 897 words · 4 min read · ~3 pages · Grade level 12.2 · Accepted 2024-12-06 09:48:23
Key Financial Figures
- $1,000,000 — ired to make non-refundable payments of $1,000,000 to the Astra, create Newco and provide
- $4,000,000 — holders, and make a lump sum payment of $4,000,000 September 10, 2024. Powertron made the
Filing Documents
- asre_8k.htm (8-K) — 25KB
- 0001477932-24-007874.txt ( ) — 144KB
- asre-20241202.xsd (EX-101.SCH) — 6KB
- asre-20241202_lab.xml (EX-101.LAB) — 14KB
- asre-20241202_cal.xml (EX-101.CAL) — 1KB
- asre-20241202_pre.xml (EX-101.PRE) — 9KB
- asre-20241202_def.xml (EX-101.DEF) — 2KB
- asre_8k_htm.xml (XML) — 4KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. On March 8, 2024, 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 were to create a new entity (" Newco ") under which all of the waste-to-energy Patents would be assinged from Regreen to Newco. In consideration of the Agreement, Powertron was required to make non-refundable payments of $1,000,000 to the Astra, create Newco and provide a plan of arrangement for its public listing of which an initial 4M shares of stock would be distributed to Astra shareholders, and make a lump sum payment of $4,000,000 September 10, 2024. Powertron made the non-refundable payment of $1,000,000 to the Company and did create a Newco. The plan of arrangement for a public listing has not yet been concluded and the payment of $4,000,000 was not made. At Powertron's request the Company granted two successive 45-day extensions beyond the initial closing date for the reasons that Powertron is engaged in a larger transaction than originally anticipated and discussions regarding a major financing to accompany the public listing that will include not just the Newco but Powertron as well. The Company has not agreed to grant a further extension. Both parties still have interest in working together and are in discussions on how best to proceed with a new transaction. 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: December 5, 2024 By: /s/ Ronald W. Loudoun Ronald W. Loudoun CEO 3