# EDGAR Filing Document

**Accession Number:** 0000895665
**File Stem:** 0001493152-23-003430
**Filing Date:** 2023-2
**Character Count:** 14516
**Document Hash:** 226aa35c2edbc5fcb7ea5ab733c86ef2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-003430.hdr.sgml**: 20230202

**ACCESSION NUMBER**: 0001493152-23-003430

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230202

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

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230202

**DATE AS OF CHANGE**: 20230202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Clearday, Inc.
- **CENTRAL INDEX KEY:** 0000895665
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-NURSING & PERSONAL CARE FACILITIES [8050]
- **IRS NUMBER:** 770158076
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-21074
- **FILM NUMBER:** 23581424

**BUSINESS ADDRESS:**
- **STREET 1:** 15511 W. STATE HWY 71
- **STREET 2:** SUITE 110-105
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78738
- **BUSINESS PHONE:** 512-650-7775

**MAIL ADDRESS:**
- **STREET 1:** 15511 W. STATE HWY 71
- **STREET 2:** SUITE 110-105
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78738

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUPERCONDUCTOR TECHNOLOGIES INC
- **DATE OF NAME CHANGE:** 19940214

?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): February 2, 2023 (January 27, 2023)

**Clearday, Inc.**

(Exact Name of Registrant as Specified in Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **0-21074** | **77-0158076** |
| (State or Other Jurisdiction<br> of Incorporation) | (Commission<br> File Number) | (I.R.S. Employer<br> Identification Number) |

---

**8800 Village Drive, Suite 106, San Antonio, TX 78217**

(Address of Principal Executive Offices) (Zip Code)

**(210) 451-0839**

(Registrant's telephone number, including area code)

(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:

☐ 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:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, par value $0.001 | CLRD | OTCQX |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). 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, Clearday, Inc. (the "*<u>Company</u>*" or "*<u>we</u>*" or "*<u>our</u>*") and Thinktiv, Inc. ("*<u>Thinktiv</u>*") agreed to convert all of the accrued accounts payable to Thinktiv as of December 31, 2022 into shares of the Company's common stock, par value $0.001 per share ("*<u>Common Stock</u>*"). An aggregate number of 4,218,158 shares of our Common Stock was issued in consideration of approximately $3,248,000 of accrued amounts payable to Thinktiv and for continued services technology and advisory services during the first quarter as from time to time mutually agreed. Thinktiv is an Austin, Texas based international company that often works with private equity sponsors and executive management teams to increase the value of software-driven businesses and has provided technology and marketing services to the Company under a Services Agreement dated as of March 6, 2019, which will continue in full force, and is expected to continue to provide services to the Company under its Services Agreement under additional statements of work as from time to time mutually agreed.

The foregoing description of the agreement to convert obligations into Common Stock is not complete and is qualified in its entirety by reference to the full text of such agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

**Item 3.02 Unregistered Sales of Equity Securities.**

The disclosures set forth in Item 1.01 to this Current Report on Form 8-K is incorporated by reference in this Item 3.02.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning the Company. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of the Company, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," "should," "would," "expect," "anticipate," "plan," "likely," "believe," "estimate," "project," "intend," and other similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the risks regarding the Company and its business, generally; risks related to the Company's ability to correctly estimate and manage its operating expenses and develop its innovate non-acute care businesses and the acceptance of its proposed products and services, including with respect to future financial and operating results; the ability of the Company to protect its intellectual property rights; competitive responses to the Company's businesses including its innovative non-acute care business; unexpected costs, charges or expenses; regulatory requirements or developments; changes in capital resource requirements; and legislative, regulatory, political and economic developments. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and the registration statement regarding the Company's previously announced merger, that was filed and declared effective. The Company can give no assurance that the actual results will not be materially different than those based on the forward looking statements. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **No.** | **Description** |
| 10.1 | [Agreement to Convert Obligations dated as of January 27, 2023](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**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.

---

| | | |
|:---|:---|:---|
|  | **CLEARDAY, INC.** | **CLEARDAY, INC.** |
|  | By: | ***/s/ James Walesa*** |
|  | Name: | James Walesa |
|  | Title: | Chief Executive Officer |
| Dated February 2, 2023 |  |  |

---

## Exhibit 10.1

**Exhibit 10.1**

CONVERSION OF OBLIGATIONS

Reference is hereby made to the obligations of Clearday Management Ltd. ("**<u>Management</u>**") to Thinktiv, Inc. ("**<u>Thinktiv</u>**") in the aggregate amount of $3,247,981.88 as of December 31, 2022, and the prior promise of Clearday, Inc. (the "**<u>Company</u>**").

This agreement (this "**<u>Agreement</u>**") regarding the conversion of obligations to Common Stock is by and among Management, Thinktiv and the Company (each, a "**<u>Party</u>**") and is dated as of January 27, 2023.

For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each Party agrees as follows:

1. <u>Representations and Warranties.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.1. Each Party acknowledges that, as of December 31, 2022, the total amount of obligations (the "**<u>Obligations</u>**") that are due and payable by Management to Thinktiv for services rendered is $3,247,981.88.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2. Thinktiv represents that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.1. It has received all information regarding the financial position, results of operations and prospects of Clearday that it has requested.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.2. It has reviewed the filings by Clearday with the Securities and Exchange Commission (the "**<u>SEC</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.3. It understands the risks of holding shares of the common stock, par value $0.001 per share (the "**<u>Common Stock</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.4. It understands its obligations to file a form 13-G or form 13-D and other forms under the Securities Exchange Act of 1934, as amended (the "**<u>Exchange Act</u>**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.2.5. It understands that the shares of Common Stock that are being issued under Section 2 of this Agreement are "restricted securities" as defined under the Securities Act of 1933, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3. Clearday and Management represent that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.1. Clearday has filed with the SEC all reports required to be filed under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.2. The filings with the SEC by Clearday complied in form and substance under the Exchange Act in all material respects.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.3. The shares of Common Stock being issued under Section 2 of this Agreement, when issued, will be duly and validly authorized, fully paid and non-assessable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.3.4. The instructions to issue the shares of Common Stock being issued under Section 2 of this Agreement to the stock record agent of the Company is sufficient for issuance of such shares to Thinktiv, Inc.

2. <u>Conversion of Obligations.</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.1. Thinktiv agrees to convert all of the Obligations into 4,218,158 shares of Common Stock and that receipt of such shares of Common Stock is payment in full and discharges in full all of the Obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.2. Clearday agrees that it has assumed the Obligations payable by Management and that it will issue the shares of Common Stock provided above as payment in full and discharge in full of all of the Obligations.

3. <u>Miscellaneous</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1. This Agreement does not amend or modify the Services Agreement dated as of March 6, 2019 by and among Thinktiv and Management, which will continue in full force and effect and is ratified by the parties as of the date of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.2. This Agreement shall be interpreted under the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.3. This Agreement may be executed in one or more counterparts, each of which when taken together shall constitute one and the same agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.4. This Agreement may be executed and delivered by electronic mail and with a digital signature.

IN WITNESS WHEREOF, this Agreement is executed and delivered as of the date first written above.

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| | |
|:---|:---|
| Clearday, Inc. and Clearday Management Ltd. | Clearday, Inc. and Clearday Management Ltd. |
| By: |  |
| Name: | James Walesa |
| Title: | Chief Executive Officer |
| Thinktiv, Inc. | Thinktiv, Inc. |
| By: |  |
| Name: | Justin Petro |
| Title: | CEO, Founder |

---