Paycheck Protection Program Promissory Note and Agreement Wells Fargo SBA LendingPaycheck Protection Program Promissory Note and Agreement • October 26th, 2020 • Kona Gold Beverage, Inc. • Beverages • South Dakota
Important Notice: This Instrument Contains A Confession Of Judgment Provision Which Constitutes A Waiver Of Important Rights You May Have As A Debtor And Allows The Creditor To Obtain A Judgment Against You Without Any Further Notice. Venue Will Be In The City Of Richmond.
Yorkville Advisors Global, LPSecurities Purchase Agreement • October 26th, 2020 • Kona Gold Beverage, Inc. • Beverages
On May 14, 2020, YA1I PN, Ltd. (the “Investor”), and Kona Gold Solutions, Inc. (“Company”), entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) and related transaction documents (collectively referred to with the Securities Purchase Agreement as the “Transaction Documents”) pursuant to which the Investor invested in two secured convertible debentures (individually referred to as the “First Convertible Debenture” and the “Second Convertible Debenture”), each in the amount of $250,000, and is obligated to invest in a third secured convertible debenture in the amount of $500,000 (the “Third Convertible Debenture”), upon various conditions precedent as articulated in Section 8(c) of the Securities Purchase Agreement, within one day of the underlying registration statement filed in connection Transaction Documents (the “Registration Statement”) being declared effective by the United States Securities and Exchange Commission (the “SEC”) (the First Convertible D
As of September 3, 2020, the Company had the following stock transactions with Robert Clark, CEO, of Kona Gold Solutions, Inc.:Employment Agreement • October 26th, 2020 • Kona Gold Beverage, Inc. • Beverages
The Company issued 30,000,000 shares of common stock on October 28, 2015 to Robert Clark pursuant to an Employment Agreement, dated August 12, 2015 (the “Clark Employment Agreement”), with Robert Clark and the Company. At the date of issuance, the per-share fair market value of the shares was $0.015 based on the closing price of common stock as reported by the OTCM on the date of issuance. Pursuant to the Clark Employment Agreement, the Company issued an additional 40,000,000 shares of common stock on March 2, 2016. At the date of issuance, the per-share fair market value of the shares was $0.0250 based on the closing price of common stock as reported by the OTCM on the date of issuance. Pursuant to the Clark Employment Agreement, the Company issued an additional 50,000,000 shares of common stock on May 16, 2016. At the date of issuance, the per-share fair market value of the shares was $0.0036 based on the closing price of common stock as reported by the OTCM on the date of issuance.
