Holy smokes..
Item 1.02
Termination of a Material Definitive Agreement
On February 13, 2023, Astra Energy Inc. (the “Company”) entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, (“1800 Diagonal”) for the purchase by 1800 Diagonal from the Company of a Convertible Promissory Note (“Promissory Note”) in the aggregate principal amount of $69,250. As of August 1, 2023, 1800 Diagonal has not converted the Promissory Note and no shares of common stock have been issued by the Company in connection with the Promissory Note.
Effective August 7, 2023, prepayment has been made in full on the Promissory Note by Trimark Capital Partners Inc. ("Trimark"), a wholly owned corporation of the Company's CEO, Ron Loudoun. The payment by Trimark to 1800 Diagonal is considered a loan to the Company (the "Loan") by Trimark Capital Partners Inc. The Loan is structured as a non-convertible, non-interest baring shareholder loan. The Company's balance sheet is now free from any convertible or dilutive debt.
Item 8.01
Other Events
The information contain in Item 1.02 of this Current Report on Form 8-K is incorporated by reference into this Item 8.01.
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