false 0001586554 0001586554 2024-08-16 2024-08-16 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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 16, 2024

 

TARGET GROUP INC.

(Exact name of registrant as specified in its charter)

 

Delaware 000-55066 46-3621499
State or other jurisdiction incorporation

Commission File Number

 

IRS Employer

Identification No.

 

20 Hempstead Drive, Hamilton, Ontario, Canada L8W 2E7
(Address of principal executive offices) (Zip Code)

 

Registrant's telephone number, including area code: (905) 541-3833

(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:

 

¨ 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))

 

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 ¨

 

For 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.

 

Emerging Growth Company ¨

 

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

 

Title of each class   Trading symbol   Name of each exchanges on which registered
         
N/A   N/A   N/A

 

 

 

 

 

Section 2-       Financial Information

 

Item 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

 

On December 26, 2019, the Company filed a report on Form 8-K disclosing the entry into a financing agreement, dated December 20, 2019 (“Original Loan”) with a private individual (“Lender”) who is the brother of the Company’s Chief Executive Officer, Anthony Zarcone. The Original Loan was subsequently amended on nine (9) previous occasions as disclosed in reports filed on Form 8-K or 8-K/A on March 17, 2020, April 24, 2020, May 14, 2020, June 22, 2021, February 18, 2022, October 21, 2022, February 2, 2023, March 13, 2023, March 31, 2023, August 4, 2023, and November 13, 2023, respectively.

 

Effective August 16, 2024, the Company and Lender entered into a Tenth Amending Agreement extending the maturity date of the Original Loan to May 31, 2025, or such earlier date as demanded by Lender. The remaining terms and conditions of the Original Loan, as amended, remain in full force and effect.

 

 

 

 

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.

 

  TARGET GROUP INC.
Dated: August 26, 2024 By: /s/ Anthony Zarcone
  Chief Executive Officer

 

 

 

v3.24.2.u1
Cover
Aug. 16, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 16, 2024
Entity File Number 000-55066
Entity Registrant Name TARGET GROUP INC.
Entity Central Index Key 0001586554
Entity Tax Identification Number 46-3621499
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 20 Hempstead Drive
Entity Address, City or Town Hamilton
Entity Address, State or Province ON
Entity Address, Country CA
Entity Address, Postal Zip Code L8W 2E7
City Area Code 905
Local Phone Number 541-3833
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Target (PK) (USOTC:CBDY)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Target (PK) Charts.
Target (PK) (USOTC:CBDY)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Target (PK) Charts.