# EDGAR Filing Document

**Accession Number:** 0001600347
**File Stem:** 0001493152-23-003419
**Filing Date:** 2023-2
**Character Count:** 7681
**Document Hash:** f60021812bbc9a3c5a45bab28d13ecb0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-003419.hdr.sgml**: 20230202

**ACCESSION NUMBER**: 0001493152-23-003419

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20230127

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230202

**DATE AS OF CHANGE**: 20230202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GigWorld Inc.
- **CENTRAL INDEX KEY:** 0001600347
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **IRS NUMBER:** 454742558
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-194748
- **FILM NUMBER:** 23581069

**BUSINESS ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 450
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 301-971-3940

**MAIL ADDRESS:**
- **STREET 1:** 4800 MONTGOMERY LANE
- **STREET 2:** SUITE 450
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HotApp Blockchain Inc.
- **DATE OF NAME CHANGE:** 20180104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HotApp Blockchain, Inc.
- **DATE OF NAME CHANGE:** 20180104

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HotApp International, Inc.
- **DATE OF NAME CHANGE:** 20141209

?xml version="1.0" encoding="utf-8"?

**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**

Date of Report (Date of earliest event reported): **January 27, 2023**

**GigWorld Inc.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **333-194748** | **47-4742558** |
| (State or other jurisdiction<br> of incorporation) | (Commission<br> File No.) | (IRS Employer<br> Identification No.) |

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| | |
|:---|:---|
| **4800 Montgomery Lane, Suite 210**<br> **Bethesda, MD** | **20814** |
| (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code: **(301) 971-3940**

**<u>N/A</u>**

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 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))

Securities registered pursuant to Section 12(b) of the Act: None

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. ☐

**Item 1.01 Entry into a Material Definitive Agreement.**

On January 27, 2023, GigWorld Inc. (the "Company") and American Wealth Mining Corp. ("AWMC," and together with the Company, the "Lenders") entered into a Convertible Credit Agreement (the "Credit Agreement") with Value Exchange International, Inc. ("Value Exchange"), a Nevada corporation. The Credit Agreement provides Value Exchange with a maximum credit line of $1,500,000 ("Maximum Credit Line") with simple interest accrued on any advances of the money under the Credit Agreement at 8%. The principal amount of any advance of money under the Credit Agreement (each being referred to as an "Advance") is due in a lump sum, balloon payment on the third annual anniversary of the date of the Advance ("Advance Maturity Date"). Accrued and unpaid interest on any Advance is due and payable on a semi-annual basis with interest payments due on the last business day of June and last business day of December of each year. A Lender may demand that any portion or all of the unpaid principal amount of any Advance as well as accrued and unpaid interest thereon may be paid by shares of Value Exchange Common Stock in lieu of cash payment.

Value Exchange must request Advances from the Lenders. Either Lender may elect to separately, fully fund the Advance, or both Lenders may jointly elect to fund the Advance based on Lenders' agreement on the portion of the Advance to be funded by each Lender. Lenders may severally or jointly reject any request for an Advance and neither Lender has an obligation to fund any Advance under the Credit Agreement. Accordingly, the Company will determine how much to loan to Value Exchange pursuant to the Credit Agreement.

The Credit Agreement grants conversion rights to each Lender. Each Advance shall be convertible, in whole or in part, into shares of Value Exchange Common Stock at the option of the Lender who made that Advance (being referred to as a "Conversion"), at any time and from time to time, at a price per share equal the "Conversion Price" (as defined below). The Conversion Price for a Conversion shall be the average closing price of the Value Exchange Common Stock for the three (3) consecutive trading days prior to date of the Notice of Conversion. The Lenders shall also have certain conversion rights upon a change of control of Value Exchange, or a breach of the Credit Agreement by Value Exchange.

In the event that a Lender elects to convert any portion of an Advance into shares of Value Exchange Common Stock in lieu of cash payment in satisfaction of that Advance, then Value Exchange would issue to the Lender five (5) detachable warrants for each share of Value Exchange Common Stock issued in a Conversion ("Warrants"). Each Warrant will entitle the Lender to purchase one (1) share of Common Stock at a per-share exercise price equal to the Conversion Price. The exercise period of each Warrant will be five (5) years from date of issuance of the Warrant.

Our Chairman, Chan Heng Fai, and another member of our Board of Directors, Lum Kan Fai, are both members of the Board of Directors of Value Exchange. In addition to Mr. Chan, two other members of the Board of Directors of our majority stockholder, Alset Inc., are also members of the Board of Directors of Value Exchange (Mr. Wong Shui Yeung and Mr. Wong Tat Keung). The Company currently owns a total of 13,776,163 shares (representing 38.1%) of Value Exchange.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

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|:---|:---|
| **Exhibit** <br> **Number**  | **Exhibit** |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**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.

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| | | |
|:---|:---|:---|
|  | **GIGWORLD INC.** | **GIGWORLD INC.** |
|  | By: | */s/ Lui Wai Leung, Alan* |
|  | Name: | Lui Wai Leung, Alan |
|  | Title: | Chief Financial Officer |
| Dated: February 2, 2023 |  |  |

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