Current Report Filing (8-k)
2015年10月15日 - 5:29AM
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 12, 2015
STRATEX OIL & GAS HOLDINGS,
INC
(Exact name of registrant as specified in its charter)
Colorado |
|
333-164856 |
|
94-3364776 |
(State
or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
175 South Main Street, Suite 900
Salt Lake City,
UT 84111
(Address of principal executive offices)
(801) 519-8500
(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 (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))
ITEM 2.04 Triggering Events That
Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.
On October 12, 2015 quarterly
interest payments were due and payable on the following Notes:
|
(A) |
Series
A Senior Secured Promissory Notes |
|
Principal obligation due and payable
on February 11, 2016 | |
$ | 9,987,650 | |
|
Quarterly interest payment due October
12, 2015 | |
$ | 302,092 | |
Each
Series A Notes bear interest at 12% per annum and is due and payable quarterly, in arrears. Upon default of the quarterly interest
payment interest may be increased to 18% per annum and the Principal obligation of the Secured Promissory Notes may be accelerated.
The
Series A Notes are secured by a first lien on substantially all of the assets of the Company, including all present and future
wells and working interests, on a pro-rata basis. The lien is pari-passu with the lien granted in favor of the holders of the
Company’s outstanding Series B Senior Secured Convertible Promissory Notes.
|
(B) |
Series
B Senior Secured Convertible Promissory Notes |
|
Principal obligation due and payable
on June 6, 2016 | |
$ | 8,014,560 | |
|
Quarterly interest payment due October
12, 2015 | |
$ | 242,413 | |
Each
Series B Notes bear interest at 12% per annum and is due and payable quarterly, in arrears. Upon default of the quarterly
interest payment interest may be increased to 18% per annum and the Principal obligation of the Secured Promissory Notes may be
accelerated.
The Series B Notes are secured
by a first lien on substantially all of the assets of the Company, including all present and future wells and working interests,
on a pro-rata basis. The lien is pari-passu with the lien granted in favor of the holders of the Company’s outstanding Series
A Senior Secured Convertible Promissory Notes.
The Company has not received a notice
of default from any of the Senior Secured Promissory Note holders as of October 14, 2015. The Company will not pay the quarterly
interest payment to the Senior Secured Convertible Promissory Note Holders, which is currently due, at this time. The Company is
uncertain when the payments will be made. The Company has informed the Note Holders that the payment will not be made and is currently
in discussions with the Note Holders.
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.
|
STRATEX OIL & GAS HOLDINGS, INC |
|
|
|
|
By |
/s/ Stephen P. Funk |
|
|
Stephen P. Funk |
|
|
Chief Executive Officer |
|
|
|
|
Date |
October 14, 2015 |
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