Item 8.01
On August 14, 2015, we granted an option to purchase up to 1,000,000 shares of our common stock to each of two employees. The options have a strike price of $1.50 per share, have a term of five years from the date of grant, vest evenly over 24 months and have a cashless exercise feature.
On August 14, 2015, we granted a warrant to purchase up to 150,000 shares of our common stock to each of two consultants. The warrants have a strike price of $2.00 per share, have a term of five years from the date of grant, were vested entirely on the grant date and have a cashless exercise feature. Additionally we issued 100,000 shares of our common stock to each of these two consultants. The grants of warrants and issuances of our common stock were issued in consideration of consulting contracts between our Company and the two consultants.
On August 14, 2015, we granted a warrant to purchase up to 50,000 shares of our common stock to a former consultant of our Company in satisfaction of consideration previously owed to him. The warrant has a strike price of $1.50 per share, a term of three years from the date of grant and were vested entirely on the date of the grant.
On August 17, 2015, we issued 110,000 shares of our common stock to a former consultant of our Company.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits.
Exhibit Description
10.9 Form of Option Agreement granted to employees on August 14, 2015
10.10 Form of Warrant Agreement granted to consultants on August 14, 2015
10.11 Form of Warrant Agreement granted to consultant on August 14, 2015
SIGNATURE
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.
NUGENE INTERNATIONAL, INC.
Dated: August 20, 2015 By:
/s/ Ali Kharazmi
Ali Kharazmi, Chief Executive Officer
