Item 1.02 - Termination of a Material Definitive Agreement OnDecember 8, 2020 , the Company cancelled One Million Five Hundred Thousand Dollars ($1,500,000 ) of debt owed toPhenix Ventures , an entity controlled byGannon Giguiere , pursuant to the Order and Judgment in the settlement of a lawsuit entitled In reEco Science Solutions, Inc. Shareholder Derivative Litigation Lead Civil No. 1:17-cv-00530-LEW-WRP (D. Haw .) Section 2 - Financial Information Item 2.03 Creation of a Direct Financial Obligation or Obligation under an Off-Balance Sheet Arrangement of a Registrant OnDecember 8, 2020 , the Company entered into a Promissory Note in the amount ofThree Hundred Fifty Thousand Dollars ($350,000 ) withRobbins LLP , pursuant to an Order and Judgment in the settlement of the aforementioned lawsuit Section 5 - Corporate Governance and Management Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers OnDecember 8, 2020 Jeffery Taylor resigned his position as Chairman of the Board,Don Taylor resigned his positions as CFO, Member of the Board of Directors, and Treasurer, andMichael Rountree was appointed interim CFO and Treasurer. The resignations were pursuant to the Order and Judgment in the settlement of the aforementioned lawsuit. Section 8 - Other Events Item 8.01 - Other Events. BetweenDecember 8, 2020 andDecember 15, 2020 , the following shareholders returned shares to the Company's Transfer Agent for cancellation: (a)Gannon Giguiere - 1,500,000 shares; (b)Jeffery Taylor - 750,000 shares; (c) Don Taylor - 750,000 shares; (d) L John Lewis - 250,000 shares; and (e) S Randall Oveson - 250,000 shares. The cancellation of the shares were pursuant to the Order and Judgment in the settlement of the aforementioned lawsuit. The information set forth in Item 8.01 of this Current Report on Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference in any of the Company's filings with theSecurities and Exchange Commission under the Exchange Act or the Securities Act of 1933, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings, except as expressly set forth by specific reference in such a filing. 2
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