Sky Quarry Inc. Files 8-K for Material Agreement

TL;DR

Sky Quarry Inc. just filed an 8-K for a new material agreement. Big news incoming.

AI Summary

Sky Quarry Inc. filed an 8-K on December 6, 2024, reporting a material definitive agreement entered into on December 2, 2024. The filing also includes financial statements and exhibits. The company is incorporated in Delaware and its principal executive offices are located in Woods Cross, UT.

Why It Matters

This 8-K filing indicates a significant new agreement for Sky Quarry Inc., which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Players & Entities

• Sky Quarry Inc. (company) — Registrant
• December 6, 2024 (date) — Filing Date
• December 2, 2024 (date) — Date of Earliest Event Reported
• Delaware (jurisdiction) — State of Incorporation
• Woods Cross, UT (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.0001 — ch registered Common Stock, par value $0.0001 SKYQ Nasdaq Capital Market Indicate
• $1,200,000 — missory note in the principal amount of $1,200,000 ("Note") to KF Business Ventures, LP ("
• $0.84 — r common stock at a conversion price of $0.84 per share at any time after the issuanc
• $21,000 — for a period of six months at a rate of $21,000 per month to be paid one-half in cash a

Filing Documents

• skyq-20241206.htm (8-K) — 24KB
• sqi_ex99z1.htm (EX-99.1) — 22KB
• sqi_ex99z2.htm (EX-99.2) — 32KB
• sqi_ex99z3.htm (EX-99.3) — 115KB
• sqi_ex99z4.htm (EX-99.4) — 18KB
• 0001096906-24-002230.txt ( ) — 394KB
• skyq-20241206_def.xml (EX-101.DEF) — 2KB
• skyq-20241206_lab.xml (EX-101.LAB) — 20KB
• skyq-20241206_pre.xml (EX-101.PRE) — 13KB
• skyq-20241206.xsd (EX-101.SCH) — 2KB
• skyq-20241206_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On December 2, 2024, we issued a secured promissory note in the principal amount of $1,200,000 ("Note") to KF Business Ventures, LP ("KFBV") a copy of which is attached hereto as Exhibit 99.1. The Note is convertible into shares of our common stock at a conversion price of $0.84 per share at any time after the issuance date of the Note. In connection with the issuance of the Note, we also issued a warrant to KFBV for the purchase of up to 1,200,000 warrants at an exercise price of $0.84 per share for a period of five years, a copy of which is attached hereto as Exhibit 99.2. The Note bears interest at a rate of 1.5% per month and matures on March 2, 2025. As security for the Note, our wholly-owned subsidiary, 2020 Resources LLC, entered into a security agreement with KFBV on December 2, 2024, a copy of which is attached hereto as Exhibit 99.3. On December 2, 2024, we also entered into an advisory agreement with KFBV ("Advisory Agreement"), a copy of which is attached hereto as Exhibit 99.4, pursuant to which KFBV will provide general business advisory services to us for a period of six months at a rate of $21,000 per month to be paid one-half in cash and one-half in the form of shares of our common stock. The foregoing is only a summary of the Note, Warrant and Advisory Agreement, each of which is attached hereto as an exhibit to this Form 8-K. Section 9 – Financial Statements and Exhibits.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. 99.1 Secured Convertible Promissory Note issued to KF Business Ventures, LP dated December 2, 2024 99.2 Warrant issued to KF Business Ventures, LP dated December 2, 2024 99.3 Security Agreement between 2020 Resources LLC and KF Business Ventures, LP dated December 2, 2024 99.4 Advisory Agreement between the Company and KF Business Ventures, LP dated December 2, 2024

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. Sky Quarry Inc. Dated: December 6, 2024 By: /s/ David Sealock Name: David Sealock Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR