Item 1.01 Entry into a Material Definitive Agreement.

On July 19, 2021, Bantec, Inc. (the "Company") entered into a convertible promissory note with Geneva Roth Remark Holdings, Inc. ("Lender") in the principal amount of $53,750.00, (the "July 19, 2021 Note"). The July 19, 2021 Note carries interest at the rate of 10%, matures on June 14, 2022, and is convertible into shares of the Company's common stock, par value $0.0001, at the Lender's election, after 180 days, at a 35% discount, provided that the Lender may not own greater than 4.99% of the Company's common stock at any time.

The Company received funding under the July 19, 2021 Note on July 20, 2021.

The foregoing is a summary of the terms of the July 19, 2021 Note and is qualified in its entirety by the July 19, 2021 Note attached hereto and incorporated herein as Exhibit 10.1.

Item 9.01 Financial Statements and Exhibits.





  (d) Exhibits: The following exhibits are filed with this report:




Exhibit No.                                 Description
10.1            July 19, 2021 Convertible Promissory Note with Geneva Roth Remark
              Holdings, Inc.




                                       1

© Edgar Online, source Glimpses