false 0001704795 0001704795 2024-05-16 2024-05-16 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

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): May 16, 2024

 

Bantec, Inc.

 

(Exact name of registrant as specified in its charter)

 

Delaware   000-55789   30-0967943
(State or other jurisdiction
of incorporation)		   (Commission File Number)   (IRS Employer
Identification Number)

 

37 Main Street, Sparta, NJ 07871

(Address of principal executive offices) (Zip Code)

 

(203) 220-2296

(Registrant’s telephone number, including area code)

 

Not applicable

 (Former name or former address, if changed since last report)

 

 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act: Not applicable.

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
         

  

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

ITEM 8.01 - OTHER EVENTS

 

Legal Proceeding

 

On May 14, 2024, Bantec, Inc. (the “Company”) was served with a lawsuit (Case No. 2024-05888) in the Circuit Court of Fairfax County, Virginia brought by 1800 Diagonal Lending, LLC (the “Plaintiff”). The Plaintiff alleges that the Company breached the terms of four Promissory Notes, issued in July, September, October and December of 2023, and seeks recovery of monetary damages in the amount of $318,392.00, and equitable relief. The Company is in the process of retaining Virginia litigation counsel and plans to contest the Plaintiff’s claims.

 

1

 

 

Item 9.01 Exhibits.

 

(d)   Exhibits.

 

Exhibit No.   Description

 

 

2

 

 

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 hereunto duly authorized.

 

Date: May 16, 2024 Bantec, Inc.
     
  By: /s/ Michael Bannon
    Name: Michael Bannon
    Title: President and CEO

 

 

3

 

 

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