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B2Digital, Inc. – ‘S-1’ on 12/31/20 – ‘EX-5.1’

On:  Thursday, 12/31/20, at 1:12pm ET   ·   Accession #:  1683168-20-4497   ·   File #:  333-251846

Previous ‘S-1’:  ‘S-1’ on 11/2/20   ·   Next & Latest:  ‘S-1/A’ on 2/2/21   ·   11 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/31/20  B2Digital, Inc.                   S-1                   85:6M                                     GlobalOne Filings Inc/FA

Registration Statement (General Form)   —   Form S-1   —   SA’33
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-1         Registration Statement (General Form)               HTML    791K 
 2: EX-3.2      Certificate of Designation for Series A             HTML     53K 
                Convertible Stock                                                
 3: EX-3.3      Certificate of Designation for Series B             HTML     27K 
                Convertible Stock                                                
 4: EX-5.1      Opinion of Business Legal Advisors, LLC             HTML     25K 
 6: EX-10.10    Common Stock Purchase Agreement                     HTML     60K 
 7: EX-10.11    Common Stock Purchase Warrant                       HTML     66K 
 5: EX-10.2     Employment Agreement With Greg Bell                 HTML     52K 
 8: EX-23.1     Consent of Independent Accountants                  HTML     21K 
 9: EX-23.2     Consent of Independent Registered Public            HTML     22K 
                Accounting Firm                                                  
16: R1          Cover                                               HTML     37K 
17: R2          Consolidated Balance Sheets                         HTML    107K 
18: R3          Consolidated Balance Sheets (Parenthetical)         HTML     43K 
19: R4          Consolidated Statements of Operations               HTML     89K 
20: R5          Consolidated Statements of Operations (Unaudited)   HTML     86K 
                (Sept 2020 Note)                                                 
21: R6          Consolidated Statement of Changes in Stockholders'  HTML     85K 
                Equity (Deficit)                                                 
22: R7          Consolidated Statements of Cash Flows               HTML    138K 
23: R8          1. Organization and Nature of Business              HTML     33K 
24: R9          2. Accounting Policies                              HTML     76K 
25: R10         3. Going Concern                                    HTML     28K 
26: R11         4. Revenue                                          HTML     39K 
27: R12         5. Property and Equipment                           HTML     37K 
28: R13         6. Intangible Assets                                HTML     37K 
29: R14         7. Related Party Transactions                       HTML     27K 
30: R15         8. Business Acquisitions                            HTML     58K 
31: R16         9. Notes Payable                                    HTML     41K 
32: R17         10. Convertible Note Payable                        HTML     91K 
33: R18         11. Derivative Financial Instruments                HTML     50K 
34: R19         12. Equity                                          HTML     46K 
35: R20         13. Leases                                          HTML     26K 
36: R21         14. Commitments and Contingencies                   HTML     29K 
37: R22         15. Income Taxes                                    HTML     43K 
38: R23         16. Subsequent Events                               HTML     36K 
39: R24         2. Accounting Policies (Policies)                   HTML    115K 
40: R25         2. Accounting Policies (Tables)                     HTML     35K 
41: R26         4. Revenue (Tables)                                 HTML     35K 
42: R27         5. Property and Equipment (Tables)                  HTML     36K 
43: R28         6. Intangible Assets (Tables)                       HTML     38K 
44: R29         8. Business Acquisitions (Tables)                   HTML     47K 
45: R30         9. Notes Payable (Tables)                           HTML     38K 
46: R31         10. Convertible Note Payable (Tables)               HTML     87K 
47: R32         11. Derivative Financial Instruments (Tables)       HTML     51K 
48: R33         15. Income Taxes (Tables)                           HTML     43K 
49: R34         2. Accounting Policies (Details)                    HTML     52K 
50: R35         2. Accounting Policies (Details Narrative)          HTML     37K 
51: R36         3. Going Concern (Details Narrative)                HTML     45K 
52: R37         4. Revenue (Details)                                HTML     30K 
53: R38         5. Property and Equipment (Details)                 HTML     40K 
54: R39         5. Property and Equipment (Details Narrative)       HTML     25K 
55: R40         6. Intangible Assets (Details - Intangible assets,  HTML     31K 
                net)                                                             
56: R41         6. Intangible Assets (Details - Estimated           HTML     37K 
                amortization expense)                                            
57: R42         6. Intangible Assets (Details Narrative)            HTML     28K 
58: R43         7. Related Party (Details Narrative)                HTML     39K 
59: R44         8. Business Acquisitions (Details - allocation of   HTML    116K 
                purchase)                                                        
60: R45         9. Notes Payable (Details)                          HTML     57K 
61: R46         10. Convertible Note Payable (Details -             HTML     63K 
                Convertible note payable)                                        
62: R47         10. Convertible Note Payable (Details - Allocation  HTML     51K 
                of cash proceeds)                                                
63: R48         10. Convertible Note Payable (Details -             HTML     48K 
                Amortization expense, interest expense and accrued               
                interest)                                                        
64: R49         10. Convertible Note Payable (Details Narrative)    HTML     33K 
65: R50         11. Derivative Financial Instruments (Details -     HTML     29K 
                Derivative liabilities)                                          
66: R51         11. Derivative Financial Instruments (Details -     HTML     31K 
                Significant inputs)                                              
67: R52         11. Derivative Financial Instruments (Details -     HTML     32K 
                Change in fair value)                                            
68: R53         12. Equity (Details Narrative)                      HTML    130K 
69: R54         15. Income Taxes (Details - Provision for Federal   HTML     37K 
                income tax )                                                     
70: R55         15. Income Taxes (Details - Reconciliation of tax)  HTML     35K 
71: R56         15. Income Taxes (Details - net deferred tax)       HTML     41K 
72: R57         15. Income Taxes (Details Narrative)                HTML     29K 
73: R58         4. Revenue (Details) (Sept 2020)                    HTML     30K 
74: R59         5. Property and Equipment (Details) (Sept 2020)     HTML     42K 
75: R60         6. Intangible Assets (Details - Intangible assets,  HTML     33K 
                net) (Sept 2020)                                                 
76: R61         6. Intangible Assets (Details Narrative) (Sept      HTML     30K 
                2020)                                                            
77: R62         8. Notes Payable (Details) (Sept 2020)              HTML     65K 
78: R63         9. Convertible Note Payable (Details - Convertible  HTML     58K 
                note payable) (Sept 2020)                                        
79: R64         9. Convertible Note Payable (Details - Allocation   HTML     54K 
                of cash proceeds) (Sept 2020)                                    
80: R65         9. Convertible Note Payable (Details -              HTML     56K 
                Amortization expense, interest expense and accrued               
                interest) (Sept 2020)                                            
81: R66         9. Convertible Note Payable (Details Narrative)     HTML     45K 
                (Sept 2020)                                                      
82: R67         11. Equity (Details Narrative) (Sept 2020)          HTML    133K 
84: XML         IDEA XML File -- Filing Summary                      XML    148K 
83: EXCEL       IDEA Workbook of Financial Reports                  XLSX    107K 
10: EX-101.INS  XBRL Instance -- btdg-20200930                       XML   1.69M 
12: EX-101.CAL  XBRL Calculations -- btdg-20200930_cal               XML    176K 
13: EX-101.DEF  XBRL Definitions -- btdg-20200930_def                XML    586K 
14: EX-101.LAB  XBRL Labels -- btdg-20200930_lab                     XML    713K 
15: EX-101.PRE  XBRL Presentations -- btdg-20200930_pre              XML    811K 
11: EX-101.SCH  XBRL Schema -- btdg-20200930                         XSD    144K 
85: ZIP         XBRL Zipped Folder -- 0001683168-20-004497-xbrl      Zip    130K 


‘EX-5.1’   —   Opinion of Business Legal Advisors, LLC


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



Exhibit 5.1

 

BUSINESS LEGAL ADVISORS, LLC

14888 Auburn Sky Drive, Draper, UT 84020

(801) 634-1984

brian@businesslegaladvisor.com

 

 

Brian Higley

Attorney at Law

Licensed in Utah

 

December 31, 2020

 

 

Greg P. Bell, CEO

B2Digital, Incorporated

4522 West Village Drive

Tampa, FL 33624

 

  Re: Registration Statement on Form S-1

 

Dear Mr. Bell:

 

I have acted as outside counsel for B2Digital, Incorporated, a Delaware corporation (the “Company”) in connection with the Company’s Registration Statement on Form S-1 (the “Registration Statement”) filed with the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended.

 

I have reviewed the Registration Statement, including the prospectus (the “Prospectus”) that is a part of the Registration Statement. The Registration Statement registers the offering and sale of up to 500,000,000 shares of the Company’s Common Stock and the resales by a certain selling stockholder of the Company of 125,000,000 shares of the Company’s common stock (the “Shares”).

 

In connection with this opinion, I have reviewed originals or copies (certified or otherwise identified to my satisfaction) of the Company’s Certificate of Incorporation, the Company’s Bylaws, resolutions adopted by the Company’s Board of Directors, the Registration Statement, the exhibits to the Registration Statement, and such other records, documents, statutes and decisions, and such certificates or comparable documents of public officials and of officers and representatives of the Company, and have made such inquiries of such officers and representatives, as I have deemed relevant in rendering this opinion.

 

In such examination, I have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to me as originals, the conformity to original documents of all documents submitted to me as certified, conformed or photostatic copies and the authenticity of the originals of such latter documents.

 

The opinions expressed below are limited to the laws of the State of Delaware (including the applicable provisions of the Delaware Constitution, applicable judicial and regulatory decisions interpreting these laws, and applicable rules and regulations underlying these laws) and the federal laws of the United States.  

  

Based on the foregoing and in reliance thereon and subject to the assumptions, qualifications and limitations set forth herein, I am of the opinion that pursuant to the corporate laws of the State of Delaware, including all relevant provisions of the state constitution and all judicial interpretations interpreting such provisions, the Shares are legally issued, fully paid and non-assessable.

 

I hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the use of my firm’s name in the related Prospectus under the heading “Legal Matters.”

 

  Very truly yours,
   
  /s/ Brian Higley

 


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘S-1’ Filing    Date    Other Filings
Filed on:12/31/2010-Q
 List all Filings 


5 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/09/23  Bell Gregory Phelps               SC 13D                 1:59K  B2Digital, Inc.                   GlobalOne Filings Inc/FA
 9/28/22  B2Digital, Inc.                   10-K        3/31/22   75:7.3M                                   GlobalOne Filings Inc/FA
 7/06/21  B2Digital, Inc.                   POS AM                76:5.3M                                   GlobalOne Filings Inc/FA
 6/29/21  B2Digital, Inc.                   10-K        3/31/21   79:5.1M                                   GlobalOne Filings Inc/FA
 2/02/21  B2Digital, Inc.                   S-1/A                  1:1.3M                                   GlobalOne Filings Inc/FA


6 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/03/20  B2Digital, Inc.                   8-K:1,3,5,711/29/20    3:57K                                    GlobalOne Filings Inc/FA
 8/19/20  B2Digital, Inc.                   10-K        3/31/20   69:3.6M                                   GlobalOne Filings Inc/FA
 2/03/20  B2Digital, Inc.                   8-K:1,9     1/28/20    2:49K                                    GlobalOne Filings Inc/FA
 1/09/20  B2Digital, Inc.                   8-K:4,9     1/07/20    2:34K                                    GlobalOne Filings Inc/FA
12/05/19  B2Digital, Inc.                   8-K:1,9    12/02/19    2:47K                                    GlobalOne Filings Inc/FA
 8/21/18  B2Digital, Inc.                   1-A                   14:1.3M                                   GlobalOne Filings Inc/FA
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Filing Submission 0001683168-20-004497   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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