Digital Utilities Ventures Inc (DUTV)

[Timing101]

Some more on that News that was just posted. Best to look at the 8-K Filing that came with that PR
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here is the link
https://archive.fast-edgar.com/20240516/A3Z7922CF222R2Z222262CZYMP8DZ2282262/
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Here is the KEY Wording of the 8-k. FYI that is MORE STOCK issued than original disclosed now up to 100 MILLION SHARES of COMMON and ANOTHER 140 MILLION SHARES OF PREFERRED (NEW) C Shares !. Hopefully they can find customers for it , Mark G has the customer base from the other Company EAI , if he ever is allowed by the Family to tap into it. It is apparent Mark G , has gotten direction in the OTC LAND on how to use "SHARES"by issuing MORE , so hopefully that works. Only if they generate contracts and truly get CUSTOMERS and SYSTEMS or PRODUCTS in place with PROOF. Lets see here it is .
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8-K Filing (see link above) done today to go with the PR posted earlier .
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Item 2.01 Completion of Acquisition

On May14, 2024 Digital Utilities Ventures, Inc., a Delaware Corporation (the “Company”), consummated a Common Stock Purchase Agreement (“Agreement”), made effective March 31, 2024, by which it acquired a majority interest (51%) in Feed Earth Now, LLC, an Illinois limited liability company (“FEN”) in exchange for shares of common and preferred stock of the Company, as follows:



1. The Company has issued One Hundred Million (100,000,000) shares of common stock to the owners of FEN.

2. The Company has also issued One Hundred Forty Million (140,000,000) Class “C” Preferred Shares to the owners of FEN. The Class “C” Preferred Shares have conversion rights into Class A Common Stock on a 1:1 basis and also carry a 10:1 voting preference in relation to the Class A Common Shares.

Additionally, the Company has restructured its outstanding debt to FEN of $337,000 into a promissory note (the “Note”) at the rate of 5% per annum, with a six-month maturity and with payments as follows:

a) Payment of Five Thousand Dollars ($5,000) per month applied first to restructuring delay fees, then interest then principal reduction until the Note is fully satisfied;

b) Additionally, there is an ongoing payment to FEN for use of the FEN technology by the Company equal to 20% of the sales of the Easy FEN Modular Microbial Production Equipment, half of which will be applied first to outstanding interest and then to principal reduction on the Note. The remaining half is currently due and owing pursuant to prior agreements between the parties unrelated to the Note. Upon full payment of the note and interest to FEN, FEN will then continue to receive a reduced on going 10% of Easy FEN Equipment sales.

The Note will be automatically renewed for another 180 day period as long as a minimum of Sixty Thousand Dollars ($60,000) is paid against the note in each 180 day period until interest and principal are paid in full. There is no prepayment penalty.

The Agreement was consummated on May 14, 2024, but was made effective by the parties as of March 31, 2024 for accounting and operational purposes going forward.



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 hereunto duly authorized.





Dated: May 15, 2024



DIGITAL UTILITIES VENTURES, INC.

By: /s/ Mark Gaalswyk Name: Mark Gaalswyk

Title: Chief Executive Officer