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
Date
of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
(Address of Principal Executive Offices) (Zip Code)
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 (see General Instruction A.2., below):
| 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
| Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.133-4(c)) |
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 or Rule 12b-2 of the Securities Exchange Act of 1934.
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 Section13(a) of the Exchange Act. ☐
Item 3.02 Unregistered Sales of Equity Securities
Between September 28, 2022 and October 6, 2022, the Registrant issued an aggregate of 4,462,837 shares of common stock to a lender that held a Convertible Note. The lender converted approximately $35,000 of principal, penalties and interest into the 4,462,837 shares of common stock and immediately began liquidating such shares on the market, mostly at the Bid side of the market, which resulted in significant share price degradation.
On October 10, 2022, the Registrant paid off the remaining balance of the Convertible Note, including principal, penalties and interest, in an effort to fend off further conversions of the Convertible Note in order to prevent further diminution in the share price of our common stock.
The Registrant does not have any convertible debt outstanding.
The above shares were issued in reliance on the exemption from registration under Section 4.(a)(2) of the Securities Act of 1933, as amended.
Item 9.01 Financial Statements and Exhibits.
None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: October 12, 2022
| DUO WORLD, INC. | ||
| By: | /s/ Muhunthan Canagasooryam | |
| Muhunthan Canagasooryam | ||
| Chief Executive Officer | ||