Form 8-K - Current report
August 09 2023 - 4:30PM
Edgar (US Regulatory)
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2023-08-04
2023-08-04
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 4, 2023
MEGA MATRIX CORP.
(Exact name of registrant as specified in our charter)
Delaware |
|
001-13387 |
|
94-3263974 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
3000 El Camino Real,
Bldg. 4, Suite 200, Palo Alto, CA |
|
94306 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
(650) 340-1888
(Registrant’s telephone number, including
area code)
Not applicable
(Former name or former address, if changed since
last report)
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 (see
General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common Stock, par value $0.001 per share |
|
MPU |
|
NYSE American Exchange LLC |
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 August 4, 2023, Bit Digital
Singapore Pte Ltd (“Bit Digital”) and Saving Digital Pte Ltd (“Saving Digital”) and Marsprotocol Technologies
Ltd (“Marsprotocol”) entered into a termination agreement whereby the parties agreed that Marsprotocol will purchase Bit Digital’s
120,000 ordinary shares in Marsprotocol for SGD$120,000. As a result of the transaction, Saving Digital, a subsidiary of Mega Matrix Corp.,
will own all of the outstanding ordinary shares of Marsprotocol. As a result of the repurchase of Bit Digital’s interest in Marsprotocol,
Marsprotocol will no longer be providing crypto non-custodial staking tools to third parties.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on our behalf by the undersigned hereunto
duly authorized.
|
Mega Matrix Corp. |
|
|
|
By: |
/s/ Yucheng Hu |
|
|
Yucheng Hu
Chief Executive Officer |
|
|
|
Dated: August 9, 2023 |
|
|
Exhibit 10.1
Termination Agreement
This Termination Agreement is entered into on this
4th day of August 2023
(“Effective Date”),
AMONG:
(1) | BIT DIGITAL SINGAPORE PTE LTD (Singapore Unique Entity No. 202122810K),
a company incorporated in Singapore with its registered address at 120 Robinson Road, #13-01, Singapore 068913 (“Bit Digital”); |
AND:
(2) | SAVING DIGITAL PTE LTD (Singapore Unique Entity No. 202122238R), a company
incorporated in Singapore with its registered address at 103 Tampines Street 86, #03-06, The Alps Residences, Singapore 528576 (“Saving
Digital”); |
AND:
(3) | MARSPROTOCOL TECHNOLOGIES PTE LTD (Singapore Unique Entity No. 202303146Z),
a company incorporated in Singapore with its registered address at 987 Serangoon Road, Singapore 328147 (“Company”); |
(each a “Party”, and collectively the
“Parties”),
WHEREAS:
(A) | The Company is a private company limited by shares; |
(B) | A Shareholders’ Agreement regulating the affairs of the Company and the respective
rights and obligations of Bit Digital and Saving Digital (collectively, the “Shareholders”) on the one hand, and the
Company on the other hand dated [•] (“Shareholders’ Agreement”) had been previously entered into between
the Parties; |
(C) | As of the date of the Shareholders’ Agreement: |
| (i) | The Company issued and allotted 300,000 ordinary shares (“Ordinary
Shares”, and each an “Ordinary Share”) at SGD 1 each; |
| (ii) | Bit Digital held 120,000 Ordinary Shares, or 40% of the share capital of the
Company; and |
| (iii) | Saving Digital held 180,000 Ordinary Shares, or 60% of the share
capital of the Company; |
(D) | The Parties now desire that the Company shall be solely owned by Saving Digital;
and |
(E) | The Parties thus wish to terminate the Shareholders’ Agreement
on the terms and conditions as set out in this Termination Agreement, |
IT IS HEREBY AGREED AS FOLLOWS:
1.1 | For the purposes of this Agreement, the following expressions bear the following meanings,
namely:- |
“Claims” means
any claims, counterclaims, actions, suits, proceedings, demands, inquiry, hearings, investigations, proceedings or dispute of any kind
or nature, whether open, pending or threatened, whether contingent, known or unknown, whether pursuant to contractual obligations, commitments
or undertaking (whether written or oral), at law or in equity or otherwise, in any forum;
“Liabilities”
means any and all debts, liabilities, costs, expenses, interest and obligations, whether accrued or fixed, absolute or contingent, matured
or unmatured, reserved or unreserved, or determined or determinable, including those arising under any law, order, writ, judgment, injunction,
decree, stipulation, determination or award entered by or with any governmental entity and those arising under any contract, agreement,
arrangement, commitment or undertaking (whether written or oral) or any fines, damages or equitable relief which may be imposed and including
all costs and expenses related thereto;
1.2 | The headings in this Agreement are for convenience only and shall not affect the interpretation
hereof. |
1.3 | Unless the context otherwise requires, references to the singular number shall include
references to the plural number and vice versa. |
Termination of Shareholders’ Agreement
2. | The Parties hereby acknowledge and agree that the Shareholders’ Agreement
shall be terminated with effect from the Effective Date. |
3. | The Parties shall do all things necessary and provide all reasonable cooperation
as may be required to do the following on or as soon as practicable from the Effective Date: |
| (a) | The Company shall carry out a share capital reduction of 120,000 Ordinary Shares
(“Share Capital Reduction”), and the Shareholders shall do all things necessary to pass any resolutions or take any
steps as may be required to carry out the Share Capital Reduction; and |
| (b) | The Company shall pay Bit Digital a sum of SGD 120,000.00 (the “Consideration”)
upon completion of the Share Capital Reduction to a bank account designated by Bit Digital. |
4. | Subject to completion of the Share Capital Reduction and repayment of the Consideration
set forth in Clause 3, the Parties acknowledge and agree that with effect from the Effective Date: |
| (a) | each Party waives all rights and obligations arising out of
or in connection with the Shareholders’ Agreement; |
| (b) | each Party has no further outstanding payments and/or obligations to any other
Party, whether arising out of or in connection with the Shareholders’ Agreement or otherwise; and |
| (c) | each Party shall be fully released and discharged from any Liabilities owed to
any other Party and shall have no further Claims against any other Party, whether arising out of or in connection with the Shareholders’
Agreement or otherwise. |
General
5. | No failure on the part of any Party hereto to exercise, and no delay on the part
of any Party hereto in exercising, any right or remedy under this Termination Agreement will operate as a waiver thereof, nor will any
single or partial exercise of any right or remedy preclude any other or further exercise thereof of any other right or remedy under this
Termination Agreement. |
6. | Each Party shall bear its own legal, professional and other costs and expenses
incurred in connection with the negotiation, preparation, due diligence or completion of this Termination Agreement and all matters incidental
relating thereto. |
7. | If any provision of this Termination Agreement is held to be illegal, invalid or
unenforceable in whole or in part in any jurisdiction, this Termination Agreement shall, as to such jurisdiction, continue to be valid
as to its other provisions and the remainder of the affected provision, and the legality, validity and enforceability of such provision
in any other jurisdiction shall be unaffected. |
8. | This Termination Agreement may be executed by the Parties hereto in separate counterparts,
each of which shall be deemed an original, but all such counterparts shall together constitute one and the same instrument. |
9. | Any Party may enter into this Termination Agreement by signing any such counterpart
transmitted electronically, or by facsimile, or other electronic signatures (such as DocuSign, AdobeSign or SignRequest), by any of the
Parties to any other Party and each receiving Party may rely on the receipt of such document so executed and delivered as if the original
had been received. |
10. | The Parties agree that signatures executed by way of electronic means (such as
DocuSign, AdobeSign or SignRequest) shall be recognised and construed as secure electronic signatures to the fullest extent under applicable
law, and that the Parties accordingly shall deem such signatures to be original signatures for all purposes. |
11. | No variation of this Termination Agreement shall be effective unless in writing
and signed by or on behalf of each Party. |
12. | Nothing in this Termination Agreement is intended to grant to any third party any
right to enforce any term of this Termination Agreement or to confer on any third party any benefits under this Agreement for the purposes
of the Contract (Rights of Third Parties) Act 2001 and any re-enactment thereof, the application of which legislation is hereby expressly
excluded. |
13. | This Termination Agreement shall be governed and construed in all respects in accordance
with the laws of Singapore. |
14. | In the event of any disputes arising in relation hereto, including about the validity
of this dispute resolution clause, the Parties submit to the exclusive jurisdiction of the Singapore courts for the resolution of any
dispute which may arise out of or in connection with this Termination Agreement, except that any Party may apply for injunctive relief
in any court of competent jurisdiction. |
IN WITNESS WHEREOF this Termination
Agreement has been executed on the date shown on the first page.
Executed by: |
|
|
|
BIT DIGITAL SINGAPORE PTE LTD |
By: |
/s/ Hao Yang |
|
Name: |
Hao Yang |
|
Title: |
Director |
|
|
|
in the presence of: |
By: |
/s/ Erke Huang |
|
Name: |
Erke Huang |
|
Title: |
CFO |
Executed by:
SAVING DIGITAL PTE LTD |
By: |
/s/ Yucheng Hu |
|
Name: |
Yucheng Hu |
|
Title: |
CEO |
in the presence of: |
By: |
/s/ Erke Huang |
|
Name: |
Erke Huang |
|
Title: |
CFO |
|
|
|
Executed by: |
|
|
|
|
|
MARSPROTOCOL TECHNOLOGIES PTE LTD |
By: |
/s/ Carol Q. Wang |
|
Name: |
Carol Q. Wang |
|
Title: |
CFO |
|
|
|
in the presence of: |
By: |
/s/ Erke Huang |
|
Name: |
Erke Huang |
|
Title: |
CFO |
4
v3.23.2
Cover
|
Aug. 04, 2023 |
Cover [Abstract] |
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Document Type |
8-K
|
Amendment Flag |
false
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Document Period End Date |
Aug. 04, 2023
|
Entity File Number |
001-13387
|
Entity Registrant Name |
MEGA MATRIX CORP.
|
Entity Central Index Key |
0001036848
|
Entity Tax Identification Number |
94-3263974
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
3000 El Camino Real
|
Entity Address, Address Line Two |
Bldg. 4
|
Entity Address, Address Line Three |
Suite 200
|
Entity Address, City or Town |
Palo Alto
|
Entity Address, State or Province |
CA
|
Entity Address, Postal Zip Code |
94306
|
City Area Code |
650
|
Local Phone Number |
340-1888
|
Written Communications |
false
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Soliciting Material |
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Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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Title of 12(b) Security |
Common Stock, par value $0.001 per share
|
Trading Symbol |
MPU
|
Security Exchange Name |
NYSE
|
Entity Emerging Growth Company |
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