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 1.01 Entry into a Material Definitive Agreement.
On January 31, 2022, the registrant (“HUMBL”), entered into a Note Purchase Agreement with SARTORII, LLC (“SARTORII”) under which SARTORII loaned HUMBL $2,000,000. HUMBL issued a promissory note (the “Note”) with a maturity date of 36 months from July 28, 2022 for the first $1,000,000 and 36 months from July 29, 2022 for the second $1,000,000 and bearing interest of 5% per annum. The Note may be prepaid by HUMBL without any penalty and is unsecured. The Note is subject to standard default terms and a default interest rate of 8%, A default by HUMBL under the Note could result in acceleration of the unpaid principal and accrued interest. The foregoing description of the Note Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Note Purchase Agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 2.01 Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The terms of the Note described in Item 1.01 are incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
| Exhibits | |||
| 10.1 | Note Purchase Agreement dated July 26, 2022 between HUMBL, Inc. and Sartorii, LLC | ||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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 thereunto duly authorized.
| Date: August 1, 2022 | HUMBL, Inc. | |
| By: | /s/ Brian Foote | |
| Brian Foote | ||
| President and CEO | ||
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