KeyStar Corp. Reports Executive/Director Changes, Compensation Arrangements
Ticker: VIPZ · Form: 8-K · Filed: Jan 31, 2024 · CIK: 1832161
| Field | Detail |
|---|---|
| Company | Keystar Corp. (VIPZ) |
| Form Type | 8-K |
| Filed Date | Jan 31, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $200 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: executive-changes, compensation, corporate-governance
TL;DR
**KeyStar Corp. just filed an 8-K about executive changes and compensation, watch for details!**
AI Summary
KeyStar Corp. filed an 8-K on January 31, 2024, reporting an event that occurred on January 29, 2024. This filing indicates a change in the company's executive or director compensation arrangements, or a departure/election of officers, as per Item 5.02. While specific names or dollar amounts are not detailed in the provided excerpt, the filing signals potential shifts in leadership or executive incentives. Investors should pay attention as changes in executive compensation or leadership can impact company strategy and future performance, potentially affecting stock valuation.
Why It Matters
Changes in leadership or executive compensation can signal strategic shifts or financial health, directly influencing investor confidence and the company's future direction.
Risk Assessment
Risk Level: medium — The filing indicates changes in leadership or compensation, which can introduce uncertainty or signal strategic shifts, warranting investor attention.
Analyst Insight
A smart investor would monitor subsequent filings or press releases from KeyStar Corp. for detailed information regarding the specific executive changes or compensation arrangements to assess their potential impact on the company's strategy and financial outlook.
Key Players & Entities
- KeyStar Corp. (company) — the registrant filing the 8-K
- January 29, 2024 (date) — date of the earliest event reported
- January 31, 2024 (date) — date the 8-K was filed
- Nevada (company) — state of incorporation for KeyStar Corp.
- 000-56290 (company) — Commission File Number for KeyStar Corp.
- 85-0738656 (company) — I.R.S. Employer Identification No. for KeyStar Corp.
- 78 SW 7th Street, Suite 500, Miami, Florida 33130 (company) — principal executive offices address for KeyStar Corp.
- 866-783-9435 (company) — telephone number for KeyStar Corp.
FAQ
What specific items were reported in this 8-K filing by KeyStar Corp.?
KeyStar Corp. reported information under 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' and 'Financial Statements and Exhibits' as per the 'ITEM INFORMATION' section of the filing.
When did the earliest event reported in this 8-K filing occur?
The earliest event reported in this 8-K filing occurred on January 29, 2024, as stated in the 'Date of Report (Date of earliest event reported)' section.
What is the state of incorporation for KeyStar Corp.?
KeyStar Corp. is incorporated in Nevada, as indicated in the filing under 'State or other jurisdiction of incorporation'.
What is the business address of KeyStar Corp. as listed in the filing?
The business address of KeyStar Corp. is 78 SW 7th Street, Suite 500, Miami, Florida 33130, according to the 'BUSINESS ADDRESS' section.
Is KeyStar Corp. an emerging growth company?
The filing includes a checkbox 'Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:' but does not explicitly check the box for 'emerging growth company', implying it is not or the information is not provided in this excerpt.
Filing Stats: 718 words · 3 min read · ~2 pages · Grade level 12.1 · Accepted 2024-01-31 11:07:05
Key Financial Figures
- $200 — ve bi-monthly compensation at a rate of $200 per hour payable on the 15th and last c
Filing Documents
- form8-k.htm (8-K) — 35KB
- ex10-1.htm (EX-10.1) — 21KB
- 0001493152-24-004441.txt ( ) — 229KB
- keyr-20240129.xsd (EX-101.SCH) — 3KB
- keyr-20240129_lab.xml (EX-101.LAB) — 33KB
- keyr-20240129_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Departure of Certain Officer: Effective January 29, 2024, Mr. Walter Tabaschek (" Tabaschek ") resigned as KeyStar Corp's., a Nevada corporation (the " Company ") Chief Financial Officer, Principal Financial Officer, Principal Accounting Officer and Treasurer. There was no specific separation agreement. However, the Company did enter into a Consulting Agreement with Tabaschek, effective January 30, 2024 (the " Consulting Agreement "). In connection with the Consulting Agreement, Tabaschek will provide professional services as the interim Chief Financial Officer of the Company as the Company may reasonably request, but limited to the review of the Company's 2023 10-K and 2023 tax returns and the general transferring of knowledge regarding the operation of the business. If the Company appoints a new Chief Financial Officer before February 29, 2024, Tabaschek will no longer serve as interim Chief Financial Officer and will transition to a general consultant until the end of the term of the Consulting Agreement on February 29, 2024. The Company may terminate the Consulting Agreement for convenience at any time, without cause or further obligation, with at least two (2) calendar days' written notice. Tabaschek may provide the services by phone or video conference. Tabaschek may not assign, transfer, delegate or subcontract his rights or obligations under the Consulting Agreement without the prior written consent of the Company. As part of the Consulting Agreement, Tabaschek will receive bi-monthly compensation at a rate of $200 per hour payable on the 15th and last calendar day of each month in accordance with the Company's standard 1099 payroll policy. Compensation will be paid only for services that are performed upon request by the Company. The foregoing summary of the Consulting Agreement is qualified in
Financial Statements and Exhibits
Financial Statements and Exhibits Exhibit No. Description 10.1 Consulting Agreement between KeyStar Corp. and Walter Tabaschek, dated January 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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. Date: January 30, 2024 KEYSTAR CORP. By: /s/ Bruce A. Cassidy Bruce A. Cassidy, CEO