Taronis Technologies Inc (fka TRNX)

[thelionwarrior]

Item 8.01Other Events.
 
On December 3, 2018, MagneGas Applied Technology Solutions, Inc. (the “Company”) issued a press release announcing that the holder of the Series C Convertible Preferred financing instrument has converted approximately 98% of its holdings to date. The Company had previously announced the closing of a $25 million convertible preferred in June of 2017. This instrument was the primary source of equity financing for the Company for the past 18 months. The Company understands the investor has elected to retain less than a 2% position in the instrument to preserve certain contractual rights, including the ability to participate in future capital transactions with the Company.
 
A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.