UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01. | Entry into a Material Definitive Agreement |
On June 03, 2024, Astra Energy Inc. (the “Company”) through its subsidiary A-HES Power Co. have entered into a Joint Venture Agreement (the "Agreement") with a multinational corporation (the "Client"), collectively (the "Parties")
The Company has received a $1,000,000 deposit towards the manufacture and installation of a one-megawatt Holcomb Energy Systems Inline Power Generator as a pilot unit with the intention that it will lead to further business.
In consideration of the Agreement:
| · | The Client will retain the non-exclusive right to engage in the resale of products and services to the end user for use in the digital coin mining, cryptocurrency, and data center marketplace. |
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| · | The Client will pay a license fee of $50,000 per megawatt for each project to a maximum of $500,000 per project to be paid upon delivery and a 5% Royalty of the cost of goods installed upon delivery. For this pilot system the license fee will be waived. |
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| · | The Parties have agreed to a confidential split of the gross revenue derived from the power savings and/or power magnification. |
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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.
| ASTRA ENERGY, INC. |
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Dated: June 06, 2024 | By: | /s/ Ronald W. Loudoun |
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| Ronald W. Loudon |
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| CEO |
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Cover |
Jun. 03, 2024 |
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| Cover [Abstract] | |
| Entity Registrant Name | Astra Energy, Inc. |
| Entity Central Index Key | 0001231339 |
| Document Type | 8-K |
| Amendment Flag | false |
| Entity Emerging Growth Company | false |
| Document Period End Date | Jun. 03, 2024 |
| Entity File Number | 000-52205 |
| Entity Incorporation State Country Code | NV |
| Entity Tax Identification Number | 20-3113571 |
| Entity Address Address Line 1 | 9565 Waples Street |
| Entity Address Address Line 2 | Suite 200 |
| Entity Address City Or Town | San Diego |
| Entity Address State Or Province | CA |
| Entity Address Postal Zip Code | 92121 |
| City Area Code | 800 |
| Local Phone Number | 705-2919 |
| Security 12b Title | Common |
| Trading Symbol | ASRE |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |