Current Report Filing (8-k)
16 August 2022 - 10:41PM
Edgar (US Regulatory)
0001314196
false
0001314196
2022-08-16
2022-08-16
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xbrli:shares
iso4217:USD
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 16, 2022
THE OLB GROUP, INC.
(Exact name of registrant as specified in its charter)
| Delaware |
|
000-52994 |
|
13-4188568 |
(State or other jurisdiction of
incorporation or organization) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification
Number) |
| 200 Park Avenue, Suite 1700, New York, NY |
|
10166 |
| (Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (212) 278-0900
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 to the registrant under any of the following provisions:
| ☐ |
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)) |
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).
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.
Securities registered pursuant to Section 12(b)
of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, $0.0001 par value |
|
OLB |
|
Nasdaq Capital Market |
Item 1.01 Entry into a Material Definitive Agreement.
On August 16, 2022, DMINT Real
Estate Holdings, Inc. (“DREH”), a wholly owned subsidiary of DMINT, Inc., a wholly owned subsidiary of the Company (“DMINT”)
which is a wholly owned subsidiary of The OLB Group, Inc. (the “Company”) entered into a Contract for Sale of Realty
(the “Contract”) related to the purchase of property. DREH closed the purchase of 4.73 acres of land and a building located
at 565 Industrial Park Drive, Selmer, McNairy County, Tennessee for a purchase price of $408,000.00. DMINT intends to convert the building
into a cryptocurrency mining data center powered on the local power grid. The location is expected to have capacity for up to 9,000 cryptocurrency
mining machines.
A copy of the Contract is
filed as Exhibit 10.1 hereto.
The description of the transactions
contemplated by the Contract set forth herein does not purport to be complete and is qualified in its entirety by reference to the full
text of each of the exhibits filed herewith and incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits
(d) Exhibits
SIGNATURE
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.
Dated: August 16, 2022
| |
THE OLB GROUP |
| |
|
| |
By: |
/s/ Ronny Yakov |
| |
Name:
Title: |
Ronny Yakov
Chief Executive Officer |
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