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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 9/08/22 Alr Technologies Inc. 8-K:1,9 9/06/22 11:244K SEC Filing Solut… LLC/FA |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 37K 2: EX-99.1 Loan Agreement HTML 39K 6: R1 Cover HTML 45K 9: XML IDEA XML File -- Filing Summary XML 11K 7: XML XBRL Instance -- f2salr8k090722_htm XML 15K 8: EXCEL IDEA Workbook of Financial Reports XLSX 8K 4: EX-101.LAB XBRL Labels -- alrt-20220906_lab XML 96K 5: EX-101.PRE XBRL Presentations -- alrt-20220906_pre XML 64K 3: EX-101.SCH XBRL Schema -- alrt-20220906 XSD 12K 10: JSON XBRL Instance as JSON Data -- MetaLinks 25± 32K 11: ZIP XBRL Zipped Folder -- 0001903596-22-000567-xbrl Zip 25K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 8, 2022 ( i September 6, 2022)
(Exact Name of Registrant as Specified in Charter)
| i Nevada | i 000-30414 | i 88-0225807 | ||
| (State or Other Jurisdiction
of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
i Richmond, i Virginia i 23225
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code
(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:
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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. ☐
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| i Common Shares | i ALRT | OTC US |
C:
| ITEM 1.01 | ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT. |
On September 6, 2022, ALR Technologies SG Pte. Ltd. (“ALR Singapore”), an affiliate of ALR Technologies Inc. (the “Company” or “ALRT”), entered into a loan agreement with Kan Wan Chen Pte. Ltd., a Singapore private company limited by shares (“KWC”), whereby KWC has agreed to advance ALR Singapore two million five hundred thousand (S$2,500,000) Singapore dollars (the “Principal”) to launch the GluCurve Pet CGM, provide working capital to ALRT and ALR Singapore and for general corporate purposes (the “Loan Agreement”).
Under the terms of the Loan Agreement:
| a. | ALR Singapore may receive additional advances under the Loan Agreement upon request, subject to the approval of KWC, such advances to be considered an increase of the Principal thereunder. |
| b. | ALR Singapore may repay the Principal at any time prior to the launch of the DX GluCurve Pet CGM, in whole or in part, at ALR Singapore’s option with a payment equal to 120% of the Principal owing. Any Principal redeemed prior to the launch of the DX GluCurve Pet CGM will not be subject to the royalty payment described below. |
| c. | ALR Singapore is obligated to pay KWC US$10 from the sale of each unit of GluCurve Pet CGM sensors sold to its distributor, which will be accounted for as follows: |
| i. | US$5 as a reduction in the Principal balance owing to KWC; and |
| ii. | US$5 as a royalty payment to compensate KWC for the cost of borrowing the Principal. |
| d. | Once the Principal amount is repaid in full, the loan will be extinguished and there will be no further amounts owed by the Company to KWC under the Loan Agreement. |
| e. | The Loan is scheduled to mature on March 31, 2024, at which time, an amount equal to 120% of the Principal then outstanding will be due and payable to KWC. |
| f. | ALRT, ALR Singapore, as well as certain of their respective subsidiaries and/or affiliates are obligated to grant KWC a general security interest in their respective assets. |
Ms. Christine Kan is a director and significant shareholder of KWC. Ms. Kan is a director of ALR Singapore, the V.P. Corporate Development of ALR Singapore, an insider of the Company and the spouse of Mr. Sidney Chan, CEO of ALR Singapore and ALRT.
The foregoing description of the Loan Agreement does not purport to be complete and is subject to, and qualified in its entirety by reference to, the full text of the Loan Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
C:ITEM 9.01 EXHIBITS AND FINANCIAL STATEMENTS.
| Exhibit | Document Description |
| 10.1 | Loan Agreement between Kan Wan Chan Holdings Pte. Ltd. and ALR Technologies SG Pte. Ltd. dated September 6, 2022 |
C:
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 this 8th day of September 2022. | |||
| ALR TECHNOLOGIES INC. | |||
| By: | /s/ Sidney Chan | ||
| Sidney Chan | |||
| Chief Executive Officer and Chairman of the Board of Directors | |||
C:
C:
| This ‘8-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 3/31/24 | None on these Dates | |||
| Filed on: | 9/8/22 | |||
| For Period end: | 9/6/22 | |||
| List all Filings | ||||