Item 8.01 Other Events.

As previously disclosed in the Current Report on Form 8-K (the "Prior 8-K") filed with the Securities and Exchange Commission on April 13, 2022 by Sollensys Corp (the "Company"), on April 7, 2022, the Celerit Merger (as such term is defined in the Prior 8-K) closed. On December 1, 2017, prior to the closing of the Celerit Merger, Celerit Corporation ("Celerit") entered into a Third Party Vendor Agreement, as subsequently amended (the "Agreement"), with a third party. Pursuant to the terms of the Agreement, on May 27, 2022, the third party paid to the Company a lump sum of $3,019,852.28 to terminate the Agreement. The Company will continue to provide services to the third party, however, as a subcontractor to another third party. In its capacity as a subcontractor, the Company expects to receive approximately $208,000 per month in 2022. The subcontractor arrangement may be terminated at any time upon 30 days' prior written notice.





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