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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Item 8.01 Other Events.
On February 24, 2023, the Board of Directors resolved to file additional disclosures related to a convertible note transaction executed in Q4 2021, in order to satisfy certain covenant requirements related to the note. On November 16, 2021, GEX Management, Inc. (the “Company” or “Registrant”), in the ordinary course of its business and pursuant to its ongoing plan of operations to fund its business by the use of convertible note transactions, entered into a Securities Purchase Agreement (“SPA”) with BHP Capital NY, Inc., an institutional investor and the Lead Investor (“BHP”) dated November 16, 2021.
Pursuant to the terms of the SPA, the Company issued and sold to BHP an 12% Senior Convertible Note dated November 16, 2021 in the principal amount of $155,000 (the “Note”), due and payable on November 16, 2022.
Item 9.01 Financial Statements and Exhibits
Exhibit No. | Description | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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.
Date: February 24, 2023 | GEX Management, Inc | |
By: | /s/ Sri Vanamali | |
Sri Vanamali | ||
Chief Executive Officer |