Item 1.01 Entry into a Material Definitive Agreement.

On January 12, 2021, Bantec, Inc. (the "Company") entered into a convertible promissory note with Geneva Roth Remark Holdings, Inc. ("Lender") in the principal amount of $53,500.00, (the "January 12, 2021 Note"). The January 12, 2021 Note carries interest at the rate of 10%, matures on January 12, 2022, and is convertible into shares of the Company's common stock, par value $0.0001, at the Lender's election, after 180 days, at a 35% discount, provided that the Lender may not own greater than 4.99% of the Company's common stock at any time.

The Company received funding under the January 12, 2021 Note on January 19, 2021.

The foregoing is a summary of the terms of the January 12, 2021 Note and is qualified in its entirety by the January 12, 2021 Note attached hereto and incorporated herein as Exhibit 10.1.

Item 9.01 Financial Statements and Exhibits.





  (d) Exhibits: The following exhibits are filed with this report:




Exhibit No.                                 Description
10.1            January 12, 2021 Convertible Promissory Note with Geneva Roth Remark
              Holdings, Inc.






                                       1

© Edgar Online, source Glimpses