Item 7.01. Regulation FD.
On July 13, 2022, The OLB Group, Inc. (the "Company") issued a press release
announcing that the Company's Board of Directors (the "Board") has authorized a
share repurchase program, pursuant to which the Company may repurchase up to 1
million shares of its outstanding shares of common stock. A copy of the press
release is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information included in this Item 7.01, including Exhibit 99.1, shall not be
deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"), or otherwise subject to the
liabilities of that section, nor shall such information be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, except as shall be expressly set forth by specific reference in
such a filing. The information set forth under this Item 7.01 shall not be
deemed an admission as to the materiality of any information in this Current
Report on Form 8-K that is required to be disclosed solely to satisfy the
requirements of Regulation FD.
Item 8.01. Other Events.
On July 12, 2022, the Board authorized a share repurchase program, pursuant to
which the Company may repurchase up to 1 million shares of its outstanding
shares of common stock. The Board authorized the Company to purchase its common
stock from time to time on a discretionary basis through open market purchases,
privately negotiated transactions or other means, including trading plans
intended to qualify under Rule 10b5-1 of the Exchange Act, in accordance with
applicable federal securities laws and other applicable legal requirements. The
Company expects to fund these repurchases through existing cash balances.
Decisions regarding the amount and the timing of purchases under the program
will be influenced by the Company's cash on hand, cash flows from operations,
general market conditions and other factors. The Company is not obligated to
acquire any particular amount of its common stock. This program has no set
termination date and may be suspended or discontinued by the Board at any time.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Exhibit Description
99.1 Press Release dated July 13, 2022.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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