SCIENTIFIC ENERGY Enters Material Definitive Agreement on Jan 18

TL;DR

**SCIENTIFIC ENERGY just signed a big deal, watch for details.**

AI Summary

SCIENTIFIC ENERGY, INC. filed an 8-K on January 19, 2024, reporting an "Entry into a Material Definitive Agreement" on January 18, 2024. This filing indicates a significant new contract or partnership for the company, which could impact its future operations and financial performance. For investors, this matters because material agreements often signal new business ventures, potential revenue streams, or strategic shifts that could affect the stock's value.

Why It Matters

This filing signals a potentially significant business development for SCIENTIFIC ENERGY, INC., which could lead to new revenue opportunities or strategic changes impacting its stock price.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement but lacks specific details, making it impossible to assess the nature or financial impact, thus presenting an unknown risk.

Analyst Insight

Investors should monitor future filings or press releases from SCIENTIFIC ENERGY, INC. for specific details regarding the "Material Definitive Agreement" to understand its potential impact on the company's financials and strategic direction.

Key Players & Entities

• SCIENTIFIC ENERGY, INC. (company) — the registrant filing the 8-K
• January 18, 2024 (date) — date of the earliest event reported
• January 19, 2024 (date) — date the 8-K was filed
• 000-50559 (dollar_amount) — Commission File Number
• 87-0680657 (dollar_amount) — IRS Employer Identification No.

Forward-Looking Statements

• SCIENTIFIC ENERGY, INC. will release more details about the Material Definitive Agreement. (SCIENTIFIC ENERGY, INC.) — medium confidence, target: 2024-03-31

FAQ

Key Financial Figures

• $120,000,000 — of graphite refined powder products is $120,000,000. Under the agreement, the Supplier agre
• $48,000,000 — ) of the total purchase price, which is $48,000,000. Parties agree that Company will issue
• $0.50 — ock shares to Supplier, at a price of US$0.50 per share, for a total price of $48,000

Filing Documents

• scientific8k2024.htm (8-K) — 16KB
• scientificagreement.htm (EX-10) — 34KB
• 0001276531-24-000002.txt ( ) — 52KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On January 18, 2024, Scientific Energy, Inc., a Utah corporation (the "Company") entered into a Base Agreement for Purchase of Graphite Ore (the "Agreement") with Madagascar Graphite Limited (the "Supplier"). As previously reported, the Company established a new wholly-owned subsidiary, Graphite Energy, Inc., and plans to enter the business of graphite production and sales, including establishing a production line for graphite refined powder products in Madagascar. Consequently, the Company first needs to ensure the long-term, sufficient and stable supply of graphite ore, which is the most important raw material for the Company's graphite production line. The Supplier owns approximately 280-square-kilometer graphite mining area in the Tamatave region of Madagascar, with hundreds of millions of tons of the estimated graphite ore reserves and a history of graphite mining for more than a hundred years. The validity period of the Agreement is 6 years and can be extended. During the agreement period, the Company will produce 600,000 tons of graphite refined powder products with a carbon content of more than 95%. After the discount, the price of the graphite ore needed to produce 600,000 tons of graphite refined powder products is $120,000,000. Under the agreement, the Supplier agrees to provide sufficient graphite ore to the Company in first priority manner. Supplier requires an advance payment of forty percent (40%) of the total purchase price, which is $48,000,000. Parties agree that Company will issue 96,000,000 shares of the Company's common stock shares to Supplier, at a price of US$0.50 per share, for a total price of $48,000,000, which is 40% of the total consideration, as an advance payment and deposit (the "Advance Payment") of the Company. The shares will be issued to the Supplier within 90 days of signing this Agreement. Pursuant to the Agreement, the shares as such issued will be held in escrow by an

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Base Agreement for Purchase of Graphite Ore dated January 18, 2024, by and between the Company and Madagascar Graphite Limited.

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. SCIENTIFIC ENERGY, INC. By: /s/ Stanley Chan _________________________ Stanley Chan Chief Executive Officer January 19, 2024

View Full Filing

View this 8-K filing on SEC EDGAR