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<DIV style=margin-left:72pt;width:468pt><P align=center style='font:12pt Times New Roman;margin:0'><B>UNITED STATES</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>Washington, D.C. 20549</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>FORM 8-K</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>CURRENT REPORT</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>July </B><B>14, 2020 </B></FONT></P>
<P align=center style='font:12pt Times New Roman;margin:0'>Date of Report</P>
<P align=center style='font:12pt Times New Roman;margin:0'> (Date of earliest event reported)</P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>APPLife Digital Solutions, Inc.</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'>(Exact name of registrant as specified in its charter)</P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<TABLE align=center style=border-collapse:collapse;width:450.65pt><TR><TD valign=top style=width:176.25pt;padding:0.75pt><P align=center style='font:12pt Times New Roman;margin:0'>&#160;&#160;<FONT style='border-bottom:1px solid #000000'><B>Nevada</B></FONT></P>
</TD><TD valign=top style=width:124.7pt;padding:0.75pt><P align=center style='font:12pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>333-227878</B></FONT></P>
</TD><TD valign=top style=width:149.7pt;padding:0.75pt><P align=center style='font:12pt Times New Roman;margin:0'><FONT style='border-bottom:1px solid #000000'><B>82-4868</B><B>628</B></FONT></P>
</TD></TR>
<TR style=height:42.9pt><TD valign=top style=width:176.25pt;padding:0.75pt><P align=center style='font:12pt Times New Roman;margin:0'>(State or other jurisdiction of Incorporation)</P>
</TD><TD valign=top style=width:124.7pt;padding:0.75pt><P align=center style='font:12pt Times New Roman;margin:0'>(Commission File Number)</P>
</TD><TD valign=top style=width:149.7pt;padding:0.75pt><P align=center style='font:12pt Times New Roman;margin:0'>(IRS Employer Identification No.)</P>
</TD></TR>
</TABLE>
<P align=center style='font:12pt Times New Roman;margin:0'><B>50 California St.</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>Suite 1500</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>San Francisco, CA 94111</B></P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>Phone: (415) 439-5260</B></P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'>(Address and Telephone Number of Registrant&#8217;s Principal Executive Offices and Principal Place of Business)</P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'>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:</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><FONT style=font-family:Wingdings>&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><FONT style=font-family:Wingdings>&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><FONT style=font-family:Wingdings>&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><FONT style=font-family:Wingdings>&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act</P>
<P style='font:12pt Times New Roman;margin:0'>&#160;</P>
<P align=justify style='font:12pt Times New Roman;margin:0;color:#000000'> &nbsp;</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P align=justify style='font:12pt Times New Roman;margin:0'><B>Item 1.01 Entry into a Material Definitive Agreement.</B></P>
<P align=justify style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'>On July 14, 2020, APPlife Digital Solutions, Inc. (the &#8220;Company&#8221;) entered into a $340,000 convertible promissory note (the &#8220;Note&#8221;) with a lender (the &#8220;Lender&#8221;). &nbsp;The outstanding principal balance of the Note shall bear interest at the rate of twelve percent (12%) per annum. &nbsp;If the Company has not paid the principal and interest due under Note to the Lender on or before the Maturity Date, upon the written demand of the Lender, the unpaid principal amount of all of this Note, together with all accrued and unpaid interest on the principal amount outstanding from time to time, shall be converted into that number of shares of Common Stock equal to the quotient obtained by dividing (i) the unpaid principal amount of the this Note, together with all accrued and unpaid interest on the principal amount outstanding from time to time, as of the end of the day immediately prior to the Conversion Date by $0.144. &nbsp;The Lender shall not be entitled to convert any amount that could case Lender to hold more that 9.99% of the Company&#8217;s common stock. &nbsp;Further, Lender agrees not to sell daily the Conversion Stock for a period of six (6) months from a conversion date (&#8220;Trading Restriction Period&#8221;) in an amount greater than thirty percent (30%) of the ten (10) day daily average trading volume of the Company&#8217;s common stock. &nbsp;Upon expiration of the Trading Restriction Period, the Lender shall have no restrictions relating to his Conversion Stock.</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0;color:#000000'>The foregoing information is a summary of the Note described above, is not complete, and is qualified in its entirety by reference to the full text of the Note, which is attached as Exhibit 10.1 to this Current Report on Form 8-K.&#160; Readers should review the Note for a complete understanding of the terms and conditions of the transaction described above.</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'><B>Item 9.01 Financial Statements and Exhibits.</B></P>
<P style='font:12pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0;color:#000000;background-color:#FFFFFF'><KBD style='position:absolute;font:12pt Times New Roman;margin-left:0pt'>(d)</KBD><KBD style=margin-left:36pt></KBD><FONT style='border-bottom:1px solid #000000'>Exhibits.</FONT>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><KBD style='position:absolute;font:12pt Times New Roman;margin-left:0pt'><FONT style='border-bottom:1px solid #000000'>Exhibit Number</FONT></KBD><KBD style=margin-left:144pt></KBD><FONT style='border-bottom:1px solid #000000'>Description</FONT>_____________________________&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><KBD style='position:absolute;font:12pt Times New Roman;margin-left:0pt'>10.1</KBD><KBD style=margin-left:144pt></KBD><A href=alds_8k.htm style=text-decoration:none><FONT style='color:#0563C1;border-bottom:1px solid #0563C1'>Convertible Promissory Note dated July 14, 2020</FONT></A>&nbsp;</P>
<HR style='page-break-after:always;border:0;height:3pt;background-color:#909090;margin:8pt 0'><P style=line-height:0;margin:0></P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=center style='font:12pt Times New Roman;margin:0'><B>SIGNATURES</B></P>
<P align=justify style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt Times New Roman;margin:0;text-indent:36pt'>Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
<P align=justify style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P align=justify style='font:12pt Times New Roman;margin:0'>Dated: July 22, 2020 </P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><KBD style=margin-left:252pt></KBD><B>APPLIFE DIGITAL SOLUTIONS, INC.</B>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><KBD style=margin-left:252pt></KBD><FONT style='border-bottom:1px solid #000000'>/s/ Matthew Reid &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0'><KBD style=margin-left:252pt></KBD>Matthew Reid&nbsp;</P>
<P style='font:12pt Times New Roman;margin:0;text-indent:36pt;margin-left:216pt'>Principal Executive Officer</P>
</DIV>
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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
July
14, 2020
Date of Report
(Date of earliest event reported)
APPLife Digital Solutions, Inc.
(Exact name of registrant as specified in its charter)
Nevada
333-227878
82-4868
628
(State or other jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
50 California St.
Suite 1500
San Francisco, CA 94111
Phone: (415) 439-5260
(Address and Telephone Number of Registrant's Principal Executive Offices and Principal Place of Business)
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:
o
Written communications pursuant to Rule 425 under the Securities Act
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
Item 1.01 Entry into a Material Definitive Agreement.
On July 14, 2020, APPlife Digital Solutions, Inc. (the "Company") entered into a $340,000 convertible promissory note (the "Note") with a lender (the "Lender").  The outstanding principal balance of the Note shall bear interest at the rate of twelve percent (12%) per annum.  If the Company has not paid the principal and interest due under Note to the Lender on or before the Maturity Date, upon the written demand of the Lender, the unpaid principal amount of all of this Note, together with all accrued and unpaid interest on the principal amount outstanding from time to time, shall be converted into that number of shares of Common Stock equal to the quotient obtained by dividing (i) the unpaid principal amount of the this Note, together with all accrued and unpaid interest on the principal amount outstanding from time to time, as of the end of the day immediately prior to the Conversion Date by $0.144.  The Lender shall not be entitled to convert any amount that could case Lender to hold more that 9.99% of the Company's common stock.  Further, Lender agrees not to sell daily the Conversion Stock for a period of six (6) months from a conversion date ("Trading Restriction Period") in an amount greater than thirty percent (30%) of the ten (10) day daily average trading volume of the Company's common stock.  Upon expiration of the Trading Restriction Period, the Lender shall have no restrictions relating to his Conversion Stock.
The foregoing information is a summary of the Note described above, is not complete, and is qualified in its entirety by reference to the full text of the Note, which is attached as Exhibit 10.1 to this Current Report on Form 8-K.  Readers should review the Note for a complete understanding of the terms and conditions of the transaction described above.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit Number
Description
_____________________________
10.1
Convertible Promissory Note dated July 14, 2020
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: July 22, 2020
APPLIFE DIGITAL SOLUTIONS, INC.
/s/ Matthew Reid
Matthew Reid
Principal Executive Officer