Focus Universal Inc. Files 8-K for Material Definitive Agreement
Ticker: FCUV · Form: 8-K · Filed: Nov 22, 2024 · CIK: 1590418
Sentiment: neutral
Topics: material-agreement, 8-k
TL;DR
FOCUS filed an 8-K for a new material agreement on 11/16/24. Details TBD.
AI Summary
Focus Universal Inc. entered into a material definitive agreement on November 16, 2024. The company, incorporated in Nevada with its principal executive offices in Ontario, California, filed a Form 8-K to report this event. The filing does not disclose specific details of the agreement or any associated dollar amounts.
Why It Matters
This filing indicates a significant new contract or partnership for Focus Universal Inc., which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — The filing is a standard 8-K for a material agreement, but the lack of specific details about the agreement's nature and terms introduces uncertainty.
Key Players & Entities
- Focus Universal Inc. (company) — Registrant
- November 16, 2024 (date) — Date of Earliest Event Reported
- Nevada (jurisdiction) — State of Incorporation
- Ontario, California (location) — Principal Executive Offices
- 46-3355876 (tax_id) — I.R.S. Employer Identification No.
- 001-40770 (sec_file_number) — SEC File Number
FAQ
What is the nature of the material definitive agreement entered into by Focus Universal Inc.?
The filing does not specify the nature of the material definitive agreement.
When was the material definitive agreement entered into?
The earliest event reported, which is the entry into the material definitive agreement, occurred on November 16, 2024.
What is the principal business address of Focus Universal Inc.?
The principal executive offices of Focus Universal Inc. are located at 2311 East Locust Street, Ontario, California, 91761.
In which state is Focus Universal Inc. incorporated?
Focus Universal Inc. is incorporated in Nevada.
What is the SEC file number for Focus Universal Inc.?
The SEC file number for Focus Universal Inc. is 001-40770.
Filing Stats: 1,013 words · 4 min read · ~3 pages · Grade level 13.6 · Accepted 2024-11-21 18:44:50
Key Financial Figures
- $0.001 — nge on which registered Common stock, $0.001 par value per share FCUV The Nasdaq S
- $20,000,000 — he Investor committed to purchase up to $20,000,000 (the "Commitment Amount") of the Compan
- $500,000 — he Purchase Notice: (a) does not exceed $500,000, which may be waived up to $5,000,000 u
- $5,000,000 — eed $500,000, which may be waived up to $5,000,000 upon mutual agreement between the Inves
Filing Documents
- focus_8k.htm (8-K) — 31KB
- focus_ex1001.htm (EX-10.1) — 173KB
- 0001683168-24-008346.txt ( ) — 410KB
- fcuv-20241116.xsd (EX-101.SCH) — 3KB
- fcuv-20241116_lab.xml (EX-101.LAB) — 33KB
- fcuv-20241116_pre.xml (EX-101.PRE) — 22KB
- focus_8k_htm.xml (XML) — 3KB
01
Item 1.01 Entry Into a Material Definitive Agreement On November 16, 2024, Focus Universal Inc. (the "Company") entered into a securities purchase agreement (the "Agreement") with a private investor, Alumni Capital LP (the "Investor"). Pursuant to the terms and conditions of the Agreement, the Investor committed to purchase up to $20,000,000 (the "Commitment Amount") of the Company's common stock, par value $0.001 per share (the "Common Stock"), from the Company during the period commencing on November 16, 2024 and ending on the earlier of (i) November 18, 2027, or (ii) the date in which the Investor has purchased Common Stock from the Company for an aggregate purchase amount of $20,000,000. To materialize the sale of Common Stock, the Company shall have the right, but not the obligation, to direct the Investor, from time to time, to purchase the number of Common Stock set forth on a purchase notice (the "Purchase Notice"). The Investor shall have the obligation to purchase from the Company the Common Stock set forth in the Purchase Notice, if that the Purchase Notice: (a) does not exceed $500,000, which may be waived up to $5,000,000 upon mutual agreement between the Investor and the Company; or (b) cause the Investor to own, after purchasing the Common Stock, and when aggregated with all other Common Stock then owned by the Investor, more than 4.99% of the of the Common Stock outstanding immediately prior to the issuance of Common Stock purchased pursuant to a Purchase Notice. The purchase price for the Common Stock shall be the lowest daily dollar volume-weighted average price (VWAP) of the Common Stock on the national securities exchange in which the Company's securities are listed for the five (5) business days prior to the closing date with respect to a Purchase Notice, multiplied by ninety-one percent (91%). The Company has covenant to: (i) use its commercially reasonable efforts to continue the listing or quotation and trading of the Common Stock on the
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Securities Purchase Agreement dated November 16, 2024 between Focus Universal Inc. and Alumni Capital LP. 104 Cover Page Interactive Data File, formatting Inline Extensible Business Reporting Language (iXBRL). 2 SIGNATURE 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. Date: November 21, 2024 FOCUS UNIVERSAL, INC. By: /s/ Desheng Wang Name: Desheng Wang Title: Chief Executive Officer 3