Volcon, Inc. Files 8-K on Agreements and Equity Sales
Ticker: EMPD · Form: 8-K · Filed: Feb 4, 2025 · CIK: 1829794
Sentiment: neutral
Topics: material-agreement, equity-sale, financials
TL;DR
Volcon dropped an 8-K detailing new deals and stock sales. Check it out.
AI Summary
Volcon, Inc. filed an 8-K on February 4, 2025, reporting on January 31, 2025, regarding a material definitive agreement, unregistered sales of equity securities, and financial statements. The filing details the company's operations in the motor vehicle sector.
Why It Matters
This filing provides crucial updates on Volcon's material agreements and equity transactions, which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can indicate significant corporate actions and potential dilution.
Key Numbers
- 001-40867 — SEC File Number (Identifies the company's filing history with the SEC.)
- 844882689 — IRS Employer Identification Number (Company's tax identification number.)
Key Players & Entities
- Volcon, Inc. (company) — Registrant
- 3121 Eagles Nest Street, Suite 120 (location) — Principal executive offices address
- Round Rock, TX 78665 (location) — Principal executive offices city, state, zip
- February 4, 2025 (date) — Date of report
- January 31, 2025 (date) — Date of earliest event reported
FAQ
What specific material definitive agreement was entered into by Volcon, Inc. on or around January 31, 2025?
The filing indicates a 'Material Definitive Agreement' was entered into, but the specific details of this agreement are not provided in the provided text excerpt.
What was the nature of the unregistered sales of equity securities reported by Volcon, Inc.?
The filing mentions 'Unregistered Sales of Equity Securities' as an item of disclosure, but the specifics of these sales are not detailed in the provided text.
What are the key financial statements or exhibits being filed with this 8-K?
The filing lists 'Financial Statements and Exhibits' as an item, but the specific content of these documents is not detailed in the provided text.
What is Volcon, Inc.'s primary business as indicated by its SIC code?
Volcon, Inc.'s Standard Industrial Classification (SIC) code is 3711, which corresponds to 'MOTOR VEHICLES & PASSENGER CAR BODIES'.
Where are Volcon, Inc.'s principal executive offices located?
Volcon, Inc.'s principal executive offices are located at 3121 Eagles Nest Street, Suite 120, Round Rock, TX 78665.
Filing Stats: 1,340 words · 5 min read · ~4 pages · Grade level 13.9 · Accepted 2025-02-04 08:30:09
Key Financial Figures
- $0.00001 — h registered Common Stock , par value $0.00001 per share VLCN NASDAQ Indicate by
Filing Documents
- volcon_8k.htm (8-K) — 37KB
- volcon_ex1001.htm (EX-10.1) — 185KB
- 0001683168-25-000673.txt ( ) — 435KB
- vlcn-20250131.xsd (EX-101.SCH) — 3KB
- vlcn-20250131_lab.xml (EX-101.LAB) — 33KB
- vlcn-20250131_pre.xml (EX-101.PRE) — 24KB
- volcon_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. On January 31, 2025, Volcon, Inc. (the "Company") entered into a Distribution Agreement (the "Agreement") with Super Sonic Company Limited ("Manufacturer"). Pursuant to the terms of the Agreement, the Manufacturer appointed the Company to act as Manufacturer's exclusive distributor of certain of the Manufacturer's golf cart products (the "Products"), in the United States. Pursuant to the Agreement, the Manufacturer agreed to recommend to all customers the sole use of the Company for all Products. Notwithstanding the foregoing, the Manufacturer has the right to sell non-Volcon branded products to other customers, provided that Manufacturer shall pay 5% of the order price to the Company. Before the end of June 2025, the Manufacturer and the Company will agree to a procurement plan, and if the Company fails to meet the minimum purchase requirement described in the procurement plan for two consecutive months, the Manufacturer shall have the right to immediately terminate the Agreement. During the term of the Agreement, to the extent the Company sells any Volcon-branded products (the "Volcon Products") that are similar to the Products, the Company agrees to provide the Manufacturer with a right of first refusal to manufacture Volcon Products. Pursuant to the Agreement, at the end of each calendar quarter, the Company agreed to issue the Manufacturer shares of Company common stock based on the number of Product units (the "Units") ordered by the Company during the quarter as follows: for each 1,000 Units Ordered in 2025 by the Company and produced by the Manufacturer (including any products referred to the Company by the Manufacturer), the Company shall issue the Manufacturer a number of shares equal to 1% of the Company's outstanding shares of common stock (the "Shares") as of the last day of such quarter that the 1,000 Units were ordered for no additional consideration, in addition to making full payment for all
02
Item 3.02. Unregistered Sales of Equity Securities. The information set forth in Item 1.01 is incorporated by reference herein. The Shares, the Warrant and the shares of Company common stock underlying the Warrant issuable pursuant to the Agreement will be offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D promulgated thereunder and have not been registered under the Securities Act or applicable
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Exhibit Description 10.1 Distribution Agreement, dated January 31, 2025, by and between Volcon, Inc. and Super Sonic Company Limited 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Volcon, Inc. (Registrant) Date: February 4, 2025 /s/ Greg Endo Greg Endo Chief Financial Officer 4