# EDGAR Filing Document

**Accession Number:** 0001119190
**File Stem:** 0001641172-25-021002
**Filing Date:** 2025-7
**Character Count:** 9893
**Document Hash:** 13dc7acaa27541d096b978edf56b7042
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-021002.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001641172-25-021002

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250721

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

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HUMBL, INC.
- **CENTRAL INDEX KEY:** 0001119190
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-DURABLE GOODS [5000]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 271296318
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-31267
- **FILM NUMBER:** 251151618

**BUSINESS ADDRESS:**
- **STREET 1:** 26 CROSS STREET
- **CITY:** NEW CANAAN
- **STATE:** CT
- **ZIP:** 06840
- **BUSINESS PHONE:** 203-930-7427

**MAIL ADDRESS:**
- **STREET 1:** 26 CROSS STREET
- **CITY:** NEW CANAAN
- **STATE:** CT
- **ZIP:** 06840

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tesoro Enterprises, Inc.
- **DATE OF NAME CHANGE:** 20100712

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tesoro Distributors, Inc.
- **DATE OF NAME CHANGE:** 20090529

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IWT TESORO CORP
- **DATE OF NAME CHANGE:** 20021002

?xml version='1.0' encoding='ASCII'?

**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): July 21, 2025

**HUMBL, Inc.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **000-31267** | **27-1296318** |
| (State or other jurisdiction | (Commission | (IRS Employer |
| of incorporation) | File Number) | Identification No.) |

---

---

| | |
|:---|:---|
| **101 W. Broadway**<br>**Suite 1450**<br>**San Diego, CA** | **92101** |
| (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: (786) 738-9012

(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))

---

| | |
|:---|:---|
| **Title of each class** | **Name of each exchange on which registered** |
| Common Stock, par value $0.00001 HMBL | OTC Pink |

---

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 July 21, 2025, HUMBL, Inc. ("HUMBL") entered into a Termination Agreement with Multicortex, LLC ("Multicortex"). HUMBL and Multicortex previously entered into a Joint Venture Agreement on April 3, 2025 (the "JV Agreement"). Pursuant to the terms of the JV Agreement, Multicortex would become a 51% subsidiary of HUMBL pending payment of the $3,000,000 purchase price, and HUMBL would pay 15% of any Regulation A+ offering proceeds to Multicortex (up to $3,000,000). The parties entered into the Termination Agreement to terminate and restructure the JV Agreement.

As part of the Termination Agreement, HUMBL received an option to purchase 51% of Multicortex for $3,000,000 exercisable for a period of one year. In addition, HUMBL's obligation to pay 15% of Regulation A+ proceeds to Multicortex was terminated. HUMBL believes that the Termination Agreement is a superior option to the Joint Venture Agreement because it still provides HUMBL the ability to purchase a controlling interest in Multicortex, but with the added flexibility of full control of any proceeds from a Regulation A+ offering and more time to evaluate Multicortex's business prospects. The HUMBL common shares issued to the founders of Multicortex will also be cancelled as part of the Termination Agreement. In addition, the parties agreed in the Termination Agreement that HUMBL would continue to provide introductions and sales support for Multicortex and to work together in good faith to negotiate appropriate sales commissions.

The foregoing descriptions of the Termination Agreement does not purport to be complete and is qualified in its entirety by reference to the Note which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

**Item 9.01 Financial Statements and Exhibits.**

---

| | |
|:---|:---|
| *Exhibits* |  |
| 10.1 | [Termination Agreement dated July 21, 2025](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**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 thereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: July 25, 2025 | **HUMBL, Inc.** | **HUMBL, Inc.** |
|  | By: | */s/ Thiago Moura* |
|  |  | Thiago Moura |
|  |  | President and CEO |

---

## Exhibit 10.1

**Exhibit 10.1**

**<u>TERMINATION AGREEMENT</u>**

This Termination Agreement (this "**Agreement**") is entered into effective as of July 21, 2025 (the "**Effective Date**"), by and between HUMBL, Inc., a Delaware corporation ("**HUMBL**"), and MultiCortex LLC, a Delaware limited liability company ("**MultiCortex**"). HUMBL and MultiCortex are sometimes referred to herein individually as a "**Party**" and collectively as the "**Parties**".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. The Parties entered into that certain Joint Venture Agreement dated April 3, 2025 (the "**JV Agreement**").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. The Parties have agreed to terminate the JV Agreement as set forth below.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Recitals</u>. Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Agreement are true and accurate and are hereby incorporated into and made a part of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Termination</u>. The JV Agreement and all obligation thereunder are hereby terminated as of the Effective Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Mutual Release</u>. Each Party releases the other Party its affiliates, officers, directors, shareholders, employees, attorneys, agents and contractors from any claims such Party may have under or related to the JV Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Purchase Option</u>. MultiCortex hereby grants to HUMBL the right to purchase a 51% equity interest in MultiCortex for a period of one year from the Effective Date for a purchase price of $3,000,000.00.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Sales Commissions</u>. The Parties agree that HUMBL will continue to make introductions for MultiCortex and continue to sell MultiCortex's products. In exchange, the Parties agree to work in good faith to negotiate appropriate sales commissions for HUMBL's efforts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Cancellation of Shares</u>. MultiCortex agrees that the shares of HUMBL common stock issued to Bruno Ghizoni and Alessandro Faria will be cancelled and MultiCortex will cause Bruno Ghizoni and Alessandro Faria to execute any such documents as are necessary to cancel the shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Counterparts</u>. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument. The parties hereto confirm that any electronic copy of another party's executed counterpart of this Agreement (or such party's signature page thereof) will be deemed to be an executed original thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Further Assurances</u>. Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

*[Remainder of page intentionally left blank; signature page follows]*

 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date set forth above.

---

| | |
|:---|:---|
| **HUMBL:** | **HUMBL:** |
| HUMBL, Inc. | HUMBL, Inc. |
| By: |  |
|  | Thiago Moura, CEO |
| **MULTICORTEX:** | **MULTICORTEX:** |
| MultiCortex, LLC | MultiCortex, LLC |
| By: | <u> </u> |
|  | Bruno Ghizoni, CEO |

---

*[Signature Page to Termination Agreement]*