# EDGAR Filing Document

**Accession Number:** 0001600422
**File Stem:** 0001493152-23-000031
**Filing Date:** 2023-1
**Character Count:** 8379
**Document Hash:** 43b6ababb7db6878ba8fd21645e23166
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-000031.hdr.sgml**: 20230103

**ACCESSION NUMBER**: 0001493152-23-000031

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20221231

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

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230103

**DATE AS OF CHANGE**: 20230103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Superior Drilling Products, Inc.
- **CENTRAL INDEX KEY:** 0001600422
- **STANDARD INDUSTRIAL CLASSIFICATION:** OIL & GAS FILED MACHINERY & EQUIPMENT [3533]
- **IRS NUMBER:** 464341605
- **STATE OF INCORPORATION:** UT
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36453
- **FILM NUMBER:** 23500110

**BUSINESS ADDRESS:**
- **STREET 1:** 1583 SOUTH 1700 EAST
- **CITY:** VERNAL
- **STATE:** UT
- **ZIP:** 84078
- **BUSINESS PHONE:** 435-789-0594

**MAIL ADDRESS:**
- **STREET 1:** 1583 SOUTH 1700 EAST
- **CITY:** VERNAL
- **STATE:** UT
- **ZIP:** 84078

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SD Co Inc
- **DATE OF NAME CHANGE:** 20140218

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

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 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):

December 31, 2022

**SUPERIOR DRILLING PRODUCTS, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Utah** | **46-4341605** |
| (State of Incorporation) | (I.R.S. Employer Identification No.) |
| **1583 South 1700 East** |  |
| **Vernal, Utah** | **84078** |
| (Address of principal executive offices) | (Zip code) |

---

Commission File Number: **001-36453**

Registrant's telephone number, including area code: **(435) 789-0594**

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 Exchange Act:

---

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

---

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 December 31, 2022, Superior Drilling Product, Inc. (the "Company") entered into an amended and restated loan agreement and note with Tronco Energy Corporation changing the maturity date for all unpaid interest and principal to January 31, 2023.

The foregoing descriptions of the amendment and restatement of the Tronco loan agreement and note are qualified in their entirety by reference to the text of such documents, which are filed as Exhibits 10.1 and 10.2, respectively, to this Form 8-K and are incorporated herein by reference.

**Item 9.01 Financial Statements and Exhibits.**

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 10.1 | [First Amendment to Third Amended and Restated Loan Agreement between the Company and Tronco Energy Corporation dated December 31, 2022.](ex10-1.htm) |
| 10.2 | [First Amendment to Third Amended and Restated Promissory Note between the Company and Tronco Energy Corporation dated December 31, 2022.](ex10-2.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.

Date: January 3, 2023

---

| |
|:---|
| SUPERIOR DRILLING PRODUCTS, INC. |
| */s/ Christopher D. Cashion* |
| Christopher D. Cashion |
| Chief Financial Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**FIRST AMENDMENT TO THIRD AMENDED AND RESTATED LOAN AGREEMENT**

Reference is made to that certain Third Amended and Restated Loan Agreement executed by Tronco Energy Corporation, a Delaware corporation ("<u>Borrower</u>") and Superior Drilling Products, Inc., a Utah corporation or its assigns ("<u>Lender</u>") dated July 6, 2020 (the "<u>Existing Loan Agreement</u>"). All defined terms contained herein shall have the same meaning as contained in the Existing Loan Agreement. This First Amendment to Third Amended and Restated Loan Agreement is made as of this 31st day of December, 2022 (the "<u>First Amendment</u>") and makes the following revision to the Existing Loan Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;1. The
 defined term " <u>Maturity Date</u> " contained in Section 1.4 of the Existing
 Loan Agreement shall be deleted in its entirety and Section 1.4 shall be rewritten to read
 as follows: **"Section 1.4 <u>Term</u>. The Note and any and all obligations of Borrower under this Agreement shall mature on January 31, 2023."** 

&nbsp;&nbsp;&nbsp;&nbsp;2. All
 other terms and conditions contained in the Existing Loan Agreement shall remain in full
 force and effect except as specifically amended hereby.

EXECUTED AS OF THIS 31st DAY OF DECEMBER, 2022.

---

| | |
|:---|:---|
| **BORROWER:** | **BORROWER:** |
| **TRONCO ENERGY CORPORATION** | **TRONCO ENERGY CORPORATION** |
| **By:** | ***/s/ G. Troy Meier*** |
|  | **G. Troy Meier, President** |

---

---

| | |
|:---|:---|
| **LENDER:** | **LENDER:** |
| **SUPERIOR DRILLING PRODUCTS, INC.** | **SUPERIOR DRILLING PRODUCTS, INC.** |
| **By:** | ***/s/ Chris Cashion*** |
|  | **Chris Cashion** |
|  | **Chief Financial Officer** |

---

## Exhibit 10.2

**Exhibit 10.2**

**FIRST AMENDMENT TO THIRD AMENDED AND RESTATED PROMISSORY NOTE**

Salt Lake City, Utah

Reference is made to that certain Third Amended and Restated Loan Promissory Note executed by Tronco Energy Corporation, a Delaware corporation ("<u>Maker</u>") for the benefit of Superior Drilling Products, a Utah corporation or its assigns ("<u>Lender</u>") dated July 6, 2020 in the original principal amount of $7,091,162.00 (the "<u>Existing Note</u>"). All defined terms contained herein shall have the same meaning as contained in the Existing Note. This First Amendment to Third Amended and Restated Promissory Note is made as of this 31st day of December, 2022 (the "<u>First Amendment</u>") and makes the following revision to the Existing Note:

&nbsp;&nbsp;&nbsp;&nbsp;1. The
 defined term " <u>Maturity Date</u> " contained in the Existing Note that provides
 for a Maturity Date of December 31, 2022 shall be deleted from the Existing Note and substituted
 therefore shall be a Maturity Date of January 31, 2023.

&nbsp;&nbsp;&nbsp;&nbsp;2. All
 other terms and conditions contained in the Existing Note shall remain in full force and
 effect except as specifically amended by this First Amendment.

EXECUTED AS OF THIS 31<sup>st</sup> DAY OF DECEMBER, 2022.

---

| | |
|:---|:---|
| **MAKER:** | **MAKER:** |
| **TRONCO ENERGY CORPORATION** | **TRONCO ENERGY CORPORATION** |
| **By:** | ***/s/ G. Troy Meier*** |
|  | **G. Troy Meier, President** |

---

**AGREED TO AND ACCEPTED as of this 31<sup>st</sup> day of December, 2022.**

---

| | |
|:---|:---|
| **LENDER:** | **LENDER:** |
| **SUPERIOR DRILLING PRODUCTS, INC.** | **SUPERIOR DRILLING PRODUCTS, INC.** |
| **By:** | ***/s/ Chris Cashion*** |
|  | **Chris Cashion** |
|  | **Chief Financial Officer** |

---