Hammer Fiber Optics Holdings Corp. Enters Material Agreement
Ticker: HMMR · Form: 8-K · Filed: Sep 4, 2024 · CIK: 1539680
| Field | Detail |
|---|---|
| Company | Hammer Fiber Optics Holdings CORP (HMMR) |
| Form Type | 8-K |
| Filed Date | Sep 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $791,546 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, financial-obligation, corporate-actions
TL;DR
Hammer Fiber Optics Holdings Corp. just signed a big deal, creating new financial obligations.
AI Summary
On August 29, 2024, Hammer Fiber Optics Holdings Corp. entered into a material definitive agreement. This filing also details the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. The company, formerly known as Tanaris Power Holdings Inc. and Recursos Montana S.A., is incorporated in Nevada and headquartered in Sarasota, Florida.
Why It Matters
This filing indicates a significant new financial commitment or obligation for Hammer Fiber Optics Holdings Corp., which could impact its financial standing and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating new financial obligations can introduce financial risks and operational changes for the company.
Key Players & Entities
- Hammer Fiber Optics Holdings Corp. (company) — Registrant
- August 29, 2024 (date) — Date of earliest event reported
- Tanaris Power Holdings Inc. (company) — Former company name
- Recursos Montana S.A. (company) — Former company name
- Nevada (jurisdiction) — State of incorporation
- Sarasota, Florida (location) — Business address
FAQ
What is the nature of the material definitive agreement entered into by Hammer Fiber Optics Holdings Corp. on August 29, 2024?
The filing indicates the entry into a material definitive agreement and the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this summary.
What were the former names of Hammer Fiber Optics Holdings Corp.?
Hammer Fiber Optics Holdings Corp. was formerly known as Tanaris Power Holdings Inc. and Recursos Montana S.A.
In which state is Hammer Fiber Optics Holdings Corp. incorporated?
Hammer Fiber Optics Holdings Corp. is incorporated in Nevada.
What is the business address of Hammer Fiber Optics Holdings Corp.?
The business address of Hammer Fiber Optics Holdings Corp. is 6151 Lake Osprey Drive, Suite 300, Sarasota, Florida.
What type of filing is this for Hammer Fiber Optics Holdings Corp.?
This is a Form 8-K filing, a current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 542 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-09-04 15:28:47
Key Financial Figures
- $791,546 — ompany an aggregate principal amount of $791,546. The Loan has an interest rate of 6%. T
Filing Documents
- form8k.htm (8-K) — 14KB
- exhibit10-1.htm (EX-10.1) — 17KB
- exhibit10-1x001.jpg (GRAPHIC) — 3KB
- 0001062993-24-016083.txt ( ) — 245KB
- hmmr-20240829.xsd (EX-101.SCH) — 4KB
- hmmr-20240829_cal.xml (EX-101.CAL) — 1KB
- hmmr-20240829_def.xml (EX-101.DEF) — 22KB
- hmmr-20240829_lab.xml (EX-101.LAB) — 45KB
- hmmr-20240829_pre.xml (EX-101.PRE) — 24KB
- form8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On August 29, 2024, Hammer Fiber Optics Holdings Corp. (the "Company") entered into and closed a loan agreement (the "Loan") with one of our members of the Board of Directors (the "Board Member"), pursuant to which the Board Member loaned the Company an aggregate principal amount of $791,546. The Loan has an interest rate of 6%. The Loan has a six month maturity date and the principal and accrued interest are due in full on March 1, 2025. The Company used the proceeds of the Loan to pay off in full satisfaction the promissory note the Company previously issued to Mast Hill Fund L.P. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The applicable information set forth in Item 1.01 of this Form 8-K with respect to the Loan above is incorporated herein by reference.
01 FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits The following exhibits are filed with this Current Report on Form 8-K: 10.1 Loan Agreement, dated August 29, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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 thereunto duly authorized. Hammer Fiber Optics Holdings, Corp. Dated: September 4, 2024 /s/ Mark Stogdill Name: Mark Stogdill Title: Principal Financial Officer