Form 8-K - Current report
October 20 2023 - 4:05PM
Edgar (US Regulatory)
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2023-10-17
2023-10-17
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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): October 17, 2023
Decentral
Life, Inc.
(Exact
name of registrant as specified in its charter)
Nevada |
|
000-55961 |
|
46-0495298 |
(State
or other jurisdiction
of
incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
Number) |
6400
S. Fiddlers Green Cir. Suite #1180
Greenwood
Village, CO |
|
80111 |
(Address
of principal executive offices) |
|
(Zip
Code) |
(855)
933-3277
Registrant’s
telephone number, including area code:
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 |
|
|
☐ |
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act |
|
|
☐ |
Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act |
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. ☐
Decentral
Life, Inc. is referred to herein as “we”, “us”, or “our”.
ITEM
8.01. OTHER EVENTS
Peak
One Opportunity Fund, L.P. Litigation – Background
On
April 9, 2021, we filed a lawsuit against Peak One and others in the United States District Court of Southern District of Florida,
Case No. 21-cv-21373 (the “Litigation”). On March 10, 2023, United States District Judge Darrin P. Gayles issued an
order dismissing all our claims brought in the Litigation, with prejudice, and closed the case (the “Order”). On April
7, 2023, we filed a Notice of Appeal related to the Order, which appeal is currently pending before the United States Court of
Appeals for the Eleventh Circuit, Appellate Case No. 23-11144 (the “Appeal”). The sole issue on appeal is whether the
District Court erred when it dismissed our claim for rescission under Section 29(b) of the Securities Exchange Act of 1934 (Count I
of the Second Amended Complaint), specifically concerning its ruling on the statute of limitations. On August 8, 2023, the Court
issued an Order granting Peak One’s Motion for Attorneys’ Fees and Expenses and awarding Peak One $142,902.50 in
attorney’s fees and $15,000 in costs for a total of $157,902.50 (the “Final Judgment”).
Settlement
Agreement
On
October 13, 2023, the Parties attended a telephonic mediation before Matthew Hodes, at which the Parties reached a settlement as to the
Litigation, the Order, the Appeal, and the Final Judgment. The Parties mutually agreed to resolve any and all issues relating to the
Litigation, the Order, the Appeal, and the Final Judgment, and generally between them. On October 17, 2023, the Parties executed a Settlement
Agreement containing the following material terms: (a) within 2 business day of the execution of the Agreement, we will file a notice
of dismissal of the Appeal pending in the United States Court of Appeals for the 11th Circuit with prejudice; (b) if the Court requires
a stipulation, both Parties’ counsel agree to cooperate in providing whatever signatures or documents necessary to dismiss the
Appeal with prejudice; and (c) within 7 calendar days of the execution of the Agreement, we shall pay Peak One $90,000.
SIGNATURES
Pursuant
to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated:
October 20, 2023
Decentral Life, Inc. |
|
|
|
|
By: |
/s/ Ken
Tapp |
|
|
Ken Tapp, |
|
|
Chief Executive Officer |
|
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