Summit Networks Inc. Reports Unregistered Equity Sales
Ticker: SNTW · Form: 8-K · Filed: Apr 15, 2024 · CIK: 1619096
| Field | Detail |
|---|---|
| Company | Summit Networks Inc. (SNTW) |
| Form Type | 8-K |
| Filed Date | Apr 15, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.13, $26,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-securities, equity-sale
TL;DR
Summit Networks sold unregistered equity, potentially diluting shares.
AI Summary
On April 9, 2024, Summit Networks Inc. filed an 8-K report detailing unregistered sales of equity securities. The filing indicates the company's principal executive offices are located at 3010-8888 Odlin Cresent, Richmond, BC Canada V6X 3Z8, and its telephone number is +1-604-232-3968. The company was incorporated in Nevada.
Why It Matters
This filing signals potential dilution for existing shareholders and provides insight into the company's capital-raising activities through non-public offerings.
Risk Assessment
Risk Level: medium — Unregistered sales can indicate a need for capital and may lead to dilution, but the specific terms and impact are not detailed in this initial report.
Key Players & Entities
- Summit Networks Inc. (company) — Registrant
- April 9, 2024 (date) — Date of Earliest Event Reported
- 3010-8888 Odlin Cresent, Richmond, BC Canada V6X 3Z8 (address) — Principal executive offices
- +1-604-232-3968 (phone_number) — Registrant's telephone number
- Nevada (jurisdiction) — State of incorporation
FAQ
What type of equity securities were sold?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the type of securities in this section.
Were these sales registered with the SEC?
No, the filing explicitly mentions 'Unregistered Sales of Equity Securities'.
What was the date of the earliest event reported?
The earliest event reported was on April 9, 2024.
Where are Summit Networks Inc.'s principal executive offices located?
The principal executive offices are located at 3010-8888 Odlin Cresent, Richmond, BC Canada V6X 3Z8.
In which state was Summit Networks Inc. incorporated?
Summit Networks Inc. was incorporated in Nevada.
Filing Stats: 419 words · 2 min read · ~1 pages · Grade level 10.7 · Accepted 2024-04-15 16:22:45
Key Financial Figures
- $0.13 — ued under Rule-1 44 with a cost base of $0.13 per share; valued at $26,000. The Rule-
- $26,000 — cost base of $0.13 per share; valued at $26,000. The Rule-144 shares are exempt of regi
Filing Documents
- sntw0409248k.htm (8-K) — 20KB
- 0001091818-24-000045.txt ( ) — 187KB
- sntw-20240409.xsd (EX-101.SCH) — 3KB
- sntw-20240409_lab.xml (EX-101.LAB) — 33KB
- sntw-20240409_pre.xml (EX-101.PRE) — 22KB
- sntw0409248k_htm.xml (XML) — 3KB
02 – UNREGISTERD SHARES OF EQUITY
ITEM 3.02 – UNREGISTERD SHARES OF EQUITY SECURITIES On April 9, 2024, the Board of Directors of Summit Networks, Inc. approved the issuance of shares to Ms. Luo Qun for services rendered. 200,000 shares were issued under Rule-1 44 with a cost base of $0.13 per share; valued at $26,000. The Rule-144 shares are exempt of registration pursuant under Section 4(2) of the Securities Act of 1933.
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. Summit Networks Inc. Date: April 15, 2024 By: /s/ Xian Nan Zheng Xian Nan Zheng Secretary/Director -2-