Scientific Energy Files 8-K on Agreements and Equity Sales

TL;DR

SCIENTIFIC ENERGY (SNEN) filed an 8-K on March 13th for material agreements and equity sales.

AI Summary

Scientific Energy, Inc. filed an 8-K on March 18, 2024, reporting a material definitive agreement and unregistered sales of equity securities. The earliest event reported was March 13, 2024. The company is incorporated in Utah and its principal executive offices are located in Macau.

Why It Matters

This filing indicates potential new business arrangements and the issuance of company stock, which could impact the company's financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.

Key Numbers

• 000-50559 — SEC File Number (Identifies the company's filing history with the SEC.)
• 87-0680657 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• SCIENTIFIC ENERGY, INC. (company) — Registrant
• March 13, 2024 (date) — Earliest event reported
• March 18, 2024 (date) — Filing date
• Utah (jurisdiction) — State of Incorporation
• Macau (location) — Principal executive offices

FAQ

Key Financial Figures

• $0.01 — ny's restricted common stock, par value $0.01 per share, to Investor, at a purchase p
• $0.50 — re, to Investor, at a purchase price of $0.50 per share, for an aggregate of purchase
• $240,000 — , for an aggregate of purchase price of $240,000. The investor is not a "U.S. Perso

Filing Documents

• sharepurchase8k.htm (8-K) — 16KB
• formofstockpurchaseagreement.htm (EX-10) — 33KB
• 0001276531-24-000003.txt ( ) — 51KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On March 13, 2024, Scientific Energy, Inc., a Utah corporation (the "Company") entered into a Stock Purchase Agreement (the "Agreement") with Faithful Securities Limited (the "Investor"). Pursuant to the Agreement the Company agreed to issue, in a private placement, 480,000 shares of the Company's restricted common stock, par value $0.01 per share, to Investor, at a purchase price of $0.50 per share, for an aggregate of purchase price of $240,000. The investor is not a "U.S. Person" as that term is defined in Regulation S promulgated under the Securities Act of 1933. A copy of the Stock Purchase Agreement is attached hereto as Exhibit 10.1, and is incorporated herein by reference.

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities The information contained in Item 1.01 above with respect to the offering of the shares is incorporated by this reference into this Item 3.02. The Shares were offered and sold in reliance upon exemptions from registration pursuant to Section 4(2) under the Securities Act and Rule 506 promulgated thereunder. The Agreement executed in connection therewith contain representations to support the Company's reasonable belief that, among other things, the Investor had access to information concerning its operations and financial condition, that the Investor acquired the Shares for its own account and not with a view to the distribution thereof, and that the Investor is an "accredited investor" as such term is defined in Regulation D promulgated under the Securities Act. The Shares described in Item 1.01 above are deemed to be restricted securities for purposes of the Securities Act and the certificates representing the Shares shall bear legends to that effect. Accordingly, the Shares sold in the offering may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Form of Stock Purchase Agreement dated March 13, 2024, by and between the Company and Purchaser therein.

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 March 15, 2024

View Full Filing

View this 8-K filing on SEC EDGAR