Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.

On September 2, 2022, Cyberloq Technologies, Inc., a Nevada corporation (the "Company") received a notice of default related to the February 28, 2022 separation agreement with Mark Carten due to the Company's failure to make payment of $163,333.30 to Mr. Carten for the redemption of 1,633,333 of Mr. Carten's common shares of the Company as per the terms of their agreement. The Company attempted to negotiate a revised agreement to avoid default, but was unable to do so. If the Company fails to make payment to Mr. Carten within the ten-day notice period, Mr. Carten can then declare the agreement terminated and all of the not-yet-redeemed shares owned by Mr. Carten will become freely transferable.

© Edgar Online, source Glimpses