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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>UNITED STATES</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>Washington, D.C. 20549</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>FORM 8-K</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>CURRENT REPORT</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>November 8, 2017 </b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>(</b><b>October 30, 2017</b><b>)</b></font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">Date of Report (Date of earliest event reported)</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>ZERO GRAVITY SOLUTIONS, INC. </b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Exact name of registrant as specified in its charter)</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>&nbsp;NEVADA</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>000-55345</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>46-1779352</b></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(State or other jurisdiction of <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">incorporation)</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Commission File Number)</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:36pt;">&nbsp;</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(IRS Employer Identification No.)</p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:5.4pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;&nbsp;</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:0.5pt;margin-right:0pt;margin-top:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">190<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> NW Spanish River Boulevard&nbsp;&nbsp;</font></p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Boca Raton, Florida</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">3<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">3431</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Address of principal</p>

			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">executive offices)<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Zip Code)</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(561) 416-0400</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">(Registrant<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s telephone number, including area code)&nbsp;&nbsp;</font></p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">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 (see General Instruction A.2. below):</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">[ ]<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;&nbsp;</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">[ ]<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">[ ]<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;</font></p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">[ ]<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Emerging growth company &#9744;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">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. &#9744;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Unless otherwise provided in t<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">his Current Report on Form 8-K, all references to &ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our,&rdquo; &ldquo;ZGSI&rdquo; or the &ldquo;Company&rdquo; refer to the Registrant, Zero Gravity Solutions, Inc.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item</b><font style="font-family:Times New Roman, Times, serif;font-size:10pt;text-transform:uppercase;"><b> </b><b>1.01 </b></font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;"><b>Entry into a Material Definitive Agreement</b></font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">On<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> October 30, 2017, the Company issued </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">to Rio Vista Investments, LLC, a Nevada limited liability company (&ldquo;Rio Vista&rdquo;), (i) an unsecured promissory note </font><font style="font-family:Times New Roman, Times, serif;font-size:10pt;">in the principal face amount of $500,000 (the &ldquo;Note&rdquo;) and (ii) a warrant to purchase up to 50,000 shares of the Company&rsquo;s common stock (the &ldquo;Warrant&rdquo;). The Note issued to Rio Vista bears interest at the rate of ten percent (10%) per annum, such interest being payable by the Company to Rio Vista quarterly in cash. The Note shall be repaid in full by the Company, plus all unpaid interest, by October 26, 2019 (&ldquo;Maturity Date&rdquo;). Prepayment of all unpaid principal and interest may be made by the Company prior to the Maturity Date, without penalty or premium. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Additionally<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">, the Company issued to Rio Vista a five-year Warrant to purchase up to 50,000 shares of the Company&rsquo;s common stock at an exercise price of $3.00 per share. </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">Mr.&nbsp;Alexander Boies, a member of the Company<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&rsquo;s board of directors, is a beneficiary of certain trusts that own Rio Vista.</font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The foregoing description of the <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Note and Warrant is not complete and is qualified in its entirety by reference to the full text of the Promissory Note and Warrant which is filed herewith as Exhibit 10.1 and 10.2, respectively, and incorporated herein by reference. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">The Company intends to use the proceeds from the <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Note to fund working capital requirements and for general corporate purposes.&nbsp;&nbsp; </font></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">The information required by this item is incorporated by reference from Item 1.01(a) above.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;text-indent:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Item 9.01<font style="font-family:Times New Roman, Times, serif;font-size:10pt;">&nbsp;</font></b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>Financial Statements and Exhibits.</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">(d) Exhibits.</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:justify;">&nbsp;</p>

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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin-bottom:0pt;margin-left:36pt;margin-right:0pt;margin-top:0pt;text-align:justify;text-indent:-36pt;">10.1</p>
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			<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><a href="ex_99431.htm" style="-sec-extract:exhibit;">Promissory Note between the Company and <font style="font-family:Times New Roman, Times, serif;font-size:10pt;">Rio Vista Investments, LLC</font></a></p>
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			<td style="vertical-align: top; width: 4%;">10.2</td>
			<td style="vertical-align: middle; width: 92%;">
			<p style="margin: 0pt; text-align: left;"><a href="ex_99432.htm" style="-sec-extract:exhibit;">Warrant issued to Rio Vista Investments, LLC</a></p>
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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;">&nbsp;</p>

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<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;"><b>&nbsp;</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>SIGNATURES</b></p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">&nbsp;</p>

<p style="font-family:Times New Roman, Times, serif;font-size:10pt;margin:0pt;text-align:left;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed<font style="font-family:Times New Roman, Times, serif;font-size:10pt;"> on its behalf by the undersigned hereunto duly authorized.</font></p>

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			<td colspan="2" rowspan="1" style="width: 3%;"><font style="font-family:Times New Roman, Times, serif; font-size:10pt">Zero Gravity Solutions, Inc. </font></td>
			<td style="width: 15%;">&nbsp;</td>
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			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 3%;">&nbsp;</td>
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			<p style="margin: 0pt; text-align: left;">Date: <font style="font-family:Times New Roman, Times, serif; font-size:10pt">November 8, 2017&nbsp;&nbsp;&nbsp;</font></p>
			</td>
			<td style="width: 3%;"><font style="font-family:Times New Roman, Times, serif; font-size:10pt">By:</font></td>
			<td style="border-bottom: thin solid rgb(0, 0, 0); width: 32%;"><font style="font-family:Times New Roman, Times, serif; font-size:10pt">/s/Timothy A. Peach </font></td>
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			<div style="font-family:Times New Roman,Times,serif"><font style="font-family:Times New Roman, Times, serif; font-size:10pt">Timothy A. Peach</font></div>
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			<div style="font-size:10pt">
			<div style="font-family:Times New Roman,Times,serif"><font style="font-family:Times New Roman, Times, serif; font-size:10pt">Chief Executive Officer</font></div>
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zgsi20171106_8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
November 8, 2017
(
October 30, 2017
)
Date of Report (Date of earliest event reported)
ZERO GRAVITY SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)
NEVADA
000-55345
46-1779352
(State or other jurisdiction of
incorporation)
(Commission File Number)
(IRS Employer Identification No.)
190
NW Spanish River Boulevard
Boca Raton, Florida
3
3431
(Address of principal
executive offices)
(Zip Code)
(561) 416-0400
(Registrant
's telephone number, including area code)
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 (see General Instruction A.2. below):
[ ]
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 or Rule 12b-2 of the Securities Exchange Act of 1934.
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. ☐
Unless otherwise provided in t
his Current Report on Form 8-K, all references to "we," "us," "our," "ZGSI" or the "Company" refer to the Registrant, Zero Gravity Solutions, Inc.
Item
1.01
Entry into a Material Definitive Agreement
On
October 30, 2017, the Company issued
to Rio Vista Investments, LLC, a Nevada limited liability company ("Rio Vista"), (i) an unsecured promissory note
in the principal face amount of $500,000 (the "Note") and (ii) a warrant to purchase up to 50,000 shares of the Company's common stock (the "Warrant"). The Note issued to Rio Vista bears interest at the rate of ten percent (10%) per annum, such interest being payable by the Company to Rio Vista quarterly in cash. The Note shall be repaid in full by the Company, plus all unpaid interest, by October 26, 2019 ("Maturity Date"). Prepayment of all unpaid principal and interest may be made by the Company prior to the Maturity Date, without penalty or premium.
Additionally
, the Company issued to Rio Vista a five-year Warrant to purchase up to 50,000 shares of the Company's common stock at an exercise price of $3.00 per share.
Mr. Alexander Boies, a member of the Company
's board of directors, is a beneficiary of certain trusts that own Rio Vista.
The foregoing description of the
Note and Warrant is not complete and is qualified in its entirety by reference to the full text of the Promissory Note and Warrant which is filed herewith as Exhibit 10.1 and 10.2, respectively, and incorporated herein by reference.
The Company intends to use the proceeds from the
Note to fund working capital requirements and for general corporate purposes.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information required by this item is incorporated by reference from Item 1.01(a) above.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits.
10.1
Promissory Note between the Company and
Rio Vista Investments, LLC
10.2
Warrant issued to Rio Vista Investments, LLC
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.
Zero Gravity Solutions, Inc.
Date:
November 8, 2017
By:
/s/Timothy A. Peach
Timothy A. Peach
Chief Executive Officer