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    CWRK   US23131W1036

CURRENCYWORKS INC.

(CWRK)
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CURRENCYWORKS INC. : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)

01/27/2020 | 06:13am EDT

Item 1.01 Entry into a Material Definitive Agreement.

On January 21, 2020 we made the following amendments effective as of December 1, 2019 to material agreements:




          Material Agreement                             Amendment

Independent consultant agreement dated Consulting fee in the amount of $8,000 effective October 9, 2017 with Bruce per month amended to $1 per month Elliott Offer letter dated January 22, 2018 Fee in the amount of $10,000 per month with James P. Geiskopf

                    amended to $5,000 per month

Offer letter dated February 9, 2018 Fee in the amount of $4,167 per month with Edmund C. Moy

                        amended to $1 per month

Offer letter dated May 17, 2018 with Fee in the amount of $4,167 per month James Carter

                              amended to $1 per month

Offer letter dated June 22, 2018 with Fee in the amount of $4,167 per month Alphonso Jackson

                          amended to $1 per month
Independent consultant agreement dated    Consulting fee in the amount of $6,000
effective October 9, 2017, as amended     per month amended to $1 per month
on November 30, 2018 and July 1, 2019
with Michael Blum
Business Services Agreement dated         Fee in the amount of $66,750 per month
October 18, 2017, as amended on June      amended to $1 per month. Fees owed by
26, 2018 with Business Instincts Group    us of $386,250 up to November 30, 2019
Inc.                                      were forgiven by Business Instincts
                                          Group Inc. pursuant to a letter dated
                                          January 21, 2020

Independent consulting agreement dated Consulting fees in the amount of $8,000 effective October 1, 2018 with Red to per month terminated effective November Black Inc.

                                30, 2019. Fees owed by us of $86,000 up
                                          to November 30, 2019 were forgiven by
                                          Red to Black Inc. pursuant to a letter
                                          dated January 21, 2020.

Independent consultant agreement dated Consulting fee in the amount of $5,000 effective December 4, 2018 with Swapan per month amended to $1 per month Kakumanu

Item 5.02(e) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 21, 2020 certain of our officers and directors agreed to forgive amounts owed to them up to November 30, 2019 as follows:



                       Officer/Director    Amount forgiven
                         Bruch Elliott         $48,000
                       James P. Geiskopf       $40,000
                         Edmund C. Moy       $29,166.69
                         James Carter        $29,166.69
                       Alphonso Jackson      $29,166.69
                         Michael Blum          $24,000
                        Swapan Kakumanu        $20,000

Item 9.01 Financial Statements and Exhibits



(d) Exhibits


10.1 Amendment Agreement dated January 21, 2020 with an effective date of

      December 1, 2019 to Consulting Agreement dated effective October 9, 2017
      between CurrencyWorks Inc. and Bruce Elliott



10.2 Amendment Agreement dated January 21, 2020 with an effective date of

      December 1, 2019 to Offer Letter dated January 22, 2018 between
      CurrencyWorks Inc. and James P. Geiskopf



10.3 Amendment Agreement dated January 21, 2020 with an effective date of

      December 1, 2019 to Offer Letter dated February 9, 2018 between
      CurrencyWorks Inc. and Edmund C. Moy



10.4 Amendment Agreement dated January 21, 2020 with an effective date of

      December 1, 2019 to Offer Letter dated May 17, 2018 between CurrencyWorks
      Inc. and James Carter



10.5 Amendment Agreement dated January 21, 2020 with an effective date of

      December 1, 2019 to Offer Letter dated June 22, 2018 between CurrencyWorks
      Inc. and Alphonso Jackson



10.6 Amendment Agreement dated January 21, 2020 with an effective date of

      December 1, 2019 to Consulting Agreement dated effective October 9, 2017, as
      amended on November 30, 2018 and July 1, 2019 between CurrencyWorks Inc. and
      Michael Blum



10.7 Amendment Agreement dated January 21, 2020 with an effective date of

      December 1, 2019 to Business Services Agreement dated effective October 18,
      2017 as amended on June 26, 2018 between CurrencyWorks Inc. and Business
      Instincts Group Inc.



10.8 Amendment Agreement dated January 21, 2020 with an effective date of

December 1, 2019 to Consulting Agreement dated effective December 4, 2018

between CurrencyWorks Inc. and Swapan Kakumanu

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 0,19 M - -
Net income 2020 -4,01 M - -
Net Debt 2020 1,43 M - -
P/E ratio 2020 -4,03x
Yield 2020 -
Capitalization 67,0 M 67,0 M -
EV / Sales 2019 11,6x
EV / Sales 2020 85,3x
Nbr of Employees 2
Free-Float 90,7%
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Income Statement Evolution
Managers and Directors
NameTitle
Bruce Elliott President & Chief Executive Officer
Swapan Kakumanu Chief Financial Officer, Secretary & Treasurer
Cameron Chell Non-Executive Chairman
James P. Geiskopf Lead Independent Director
Edmund C. Moy Independent Director
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