Current Report Filing (8-k)
October 07 2020 - 5:19PM
Edgar (US Regulatory)
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): October 5, 2020
VERUS
INTERNATIONAL, INC.
(Exact
name of registrant as specified in its charter)
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Delaware
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001-34106
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11-3820796
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(State
or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer
Identification No.)
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9841
Washingtonian Boulevard, #390
Gaithersburg,
MD 20878
(Address
of principal executive offices) (zip code)
(301)
329-2700
(Registrant’s
telephone number, including area code)
(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:
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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act: None.
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
1.02. Termination of a Material Definitive Agreement.
Effective
October 5, 2020, Verus International, Inc. (the “Company”) issued a Demand for Repayment and Notice of Rescission
of Transaction (the “Demand and Rescission Letter”) to ZC Top Apparel Manufacturing, Inc. (“TAM”), as
a result of TAM’s failure of contractual performance and breach of contract, due to TAM not registering the controlling
interest of 51% in the name of the Company as required under the Binding Term Sheet dated April 3, 2020. Pursuant to the terms
of the Demand and Rescission Letter, all obligations under the Binding Term Sheet are rescinded and a demand made for immediate
return of the cash consideration of $100,000, paid by the Company, plus fees and costs to be determined, within ten (10) days
from the date of the Demand and Rescission Letter.
The
foregoing description of the Demand and Rescission Letter does not purport to be complete and is subject to, and qualified in
its entirety by reference to the full text of the Demand and Rescission Letter, a copy of which is attached hereto as Exhibit
10.1 and incorporated herein by reference.
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 its behalf
by the undersigned hereunto duly authorized.
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Verus
International, Inc.
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Dated:
October 7, 2020
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/s/
Anshu Bhatnagar
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Anshu
Bhatnagar
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Chief
Executive Officer
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Verus (CE) (USOTC:VRUS)
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