Item 1.01 Entry into a Material Definitive Agreement
On
Under the Agreement, Craftsmen shall manufacture and supply goods and provide
all necessary labor, materials, management expertise, and oversight necessary to
manufacture the goods at the Company's manufacturing facility located in
The agreement provides that all payments owed by the Company to Craftsmen under
this Agreement are secured by a second lien on company assets and have been
guaranteed by
In connection with the Unilumin Guarantee in the Agreement, the Company issued
warrants (the "Warrants") to purchase 4,000,000 shares of the Company's Common
Stock to
The foregoing description of the Agreement is included to provide information regarding its terms. It does not purport to be a complete description and is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.
Item 3.02 Unregistered Sale of
In connection with the Unilumin Guarantee in the Agreement, the Company issued
the Warrants to purchase 4,000,000 shares of the Company's Common Stock to
The Warrants were issued and granted to Unilumin pursuant to the exemption from registration contained in Section 4(2) of the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
Exhibit 10.1 Contract Manufacturing Agreement, dated as of
commenced as ofJune 15, 2020 , by and amongTrans-Lux Corporation ,FairPlay Corporation andCraftsmen Industries, Inc. , filed herewith. 2
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