Sky Quarry Inc. Files 8-K: Material Agreement, Officer Changes
Ticker: SKYQ · Form: 8-K · Filed: Sep 4, 2025 · CIK: 1812447
| Field | Detail |
|---|---|
| Company | Sky Quarry Inc. (SKYQ) |
| Form Type | 8-K |
| Filed Date | Sep 4, 2025 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $175,000, $0.48, $0.40 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, officer-changes, director-changes
TL;DR
Sky Quarry Inc. signed a big deal & shuffled execs/board. Big changes coming.
AI Summary
Sky Quarry Inc. announced on September 4, 2025, that it entered into a material definitive agreement on August 28, 2025. The company also reported on the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements for these officers. The filing includes financial statements and exhibits related to these events.
Why It Matters
This 8-K filing signals significant corporate actions, including a new material agreement and changes in leadership, which could impact the company's strategic direction and operational performance.
Risk Assessment
Risk Level: medium — Material definitive agreements and changes in directors/officers can introduce uncertainty and potential shifts in strategy, warranting a medium risk assessment.
Key Players & Entities
- Sky Quarry Inc. (company) — Registrant
- 0001812447 (company) — Central Index Key
- 001-42296 (company) — SEC File Number
- 84-1803091 (company) — I.R.S. Employer Identification No.
- September 4, 2025 (date) — Date of Report
- August 28, 2025 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Sky Quarry Inc.?
The filing states that Sky Quarry Inc. entered into a material definitive agreement on August 28, 2025, but the specific details of this agreement are not provided in the provided text.
What specific changes occurred regarding directors and officers?
The filing indicates the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements for these officers.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on August 28, 2025.
What is Sky Quarry Inc.'s principal executive office address?
Sky Quarry Inc.'s principal executive offices are located at 707 W. 700 South, Suite 1, Woods Cross, UT 84087.
What is Sky Quarry Inc.'s Standard Industrial Classification code?
Sky Quarry Inc.'s Standard Industrial Classification code is 4955, which corresponds to Hazardous Waste Management.
Filing Stats: 679 words · 3 min read · ~2 pages · Grade level 10.4 · Accepted 2025-09-04 16:55:00
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 SKYQ Nasdaq Capital Market Indicate
- $175,000 — tible Note") in the principal amount of $175,000 to Varie Asset Management LLC ("Varie")
- $0.48 — ock at anytime at a conversion price of $0.48 per share, subject to adjustment with a
- $0.40 — ect to adjustment with a floor price of $0.40 per share. A copy of the Convertible No
Filing Documents
- skyq-20250904_8k.htm (8-K) — 26KB
- skyq_ex99z1.htm (EX-99.1) — 45KB
- skyq_ex99z2.htm (EX-99.2) — 35KB
- 0001096906-25-001480.txt ( ) — 250KB
- skyq-20250904_def.xml (EX-101.DEF) — 2KB
- skyq-20250904_lab.xml (EX-101.LAB) — 20KB
- skyq-20250904_pre.xml (EX-101.PRE) — 13KB
- skyq-20250904.xsd (EX-101.SCH) — 2KB
- skyq-20250904_8k_htm.xml (XML) — 3KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On August 29, 2025, the Company issued a convertible promissory note ("Convertible Note") in the principal amount of $175,000 to Varie Asset Management LLC ("Varie"). The Convertible Note matures on August 29, 2027, bears an interest rate of 14% per annum and is convertible into shares of the Company's common stock at anytime at a conversion price of $0.48 per share, subject to adjustment with a floor price of $0.40 per share. A copy of the Convertible Note is attached hereto as Exhibit 99.1. Additionally, in connection with the issuance of the Convertible Note, the Company issued a warrant to Varie to purchase up to 70,000 shares of the Company's common stock at an exercise price of $0.48 per share. The Warrant is exercisable immediately upon issuance for a period of twenty-four (24) months. A copy of the Warrant is attached hereto as Exhibit 99.2. The foregoing is only a summary of the Convertible Note and the Warrant, each of which are attached hereto as exhibits to this Form 8-K. 1 Section 5 – Corporate Governance and Management Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 28, 2025, a special committee of the Company's board of directors terminated Mr. Sealock's employment with the Company as its Chief Executive Officer for cause pursuant to the terms of his employment agreement. Additionally, on August 28, 2025, the board of directors appointed Marcus Laun, the Company's President, Interim CFO, Executive VP and Director, as the Company's Interim Chief Executive Officer. Section 9 – Financial Statements and Exhibits.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. 99.1 Convertible Promissory Note between Sky Quarry Inc. and Varie Asset Management LLC dated August 29, 2025 99.2 Warrant Agreement issued to Varie Asset Management dated August 29, 2025
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: September 4, 2025 By: /s/ Marcus Laun Name: Marcus Laun Title: President 2