440 million shares issued to insiders
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 15, 2016
SoOum Corp.
(Name of small business in its charter)
_____________________________________
Minnesota
000-7475
41-0831186
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
590 Madison Avenue
Suite 1800
New York, NY 10022
(Address of principal executive offices)
Registrant's telephone number: (480) 287-6675
______________________________________
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
1
Item 3.02 Unregistered Sale of Equity Securities.
On March 15, 2016 the Registrant issued 440,000,000 shares of its common stock pursuant to an exemption from registration provided by Section 4(2) of the Securities Act of 1933. The offering was not a public offering as defined in Section 4(2) due to the limited number of persons that received the shares, the manner of the offering and the fact that the individuals that received the shares were officers and employees of the Company. In addition, the investors represented that they had the necessary investment intent as required by Section 4(2) and agreed to and received share certificates bearing a legend that stated that the securities were restricted pursuant to Rule 144 of the Securities Act. The shares were issued in exchange for services.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SOOUM CORP.
Dated: March 15, 2016
By:
/s/ William Westbrook
William Westbrook
Title:
President
Disclaimer: Everything I post is opinion and is not to be taken as investment advice. You make your own decisions based on your own judgement. Do your own DD = 'Due Diligence' = Your trade, Your responsibility.