Form 8-K for Q LOTUS HOLDINGS INC 30-Sep-2015

Form 8-K for Q LOTUS HOLDINGS INC

30-Sep-2015

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Agreement
Agreements

1. On September 15, 2015, Q Lotus Holdings Inc. (the "Company" obtained all rights, title, and interest in participation to an HSBC trading platform together with its partner, Harvesttime Worldwide Oil Trust London, LLC ("Harvesttime" for a $200,000.00 USD investment. The interest of the Company in the investment will permit the Company to have access to the trading platform of HSBC.

2. On September 11, 2015, the Company and Harvesttime entered into a financial instrument service agreement (the "Agreement" with Wild Stallions, LLC (the "Provider", a Kansas Limited Liability Company. Pursuant to the Agreement, the Provider, in consideration of payment by the Company of a provider fee of $1,500,000, is obligated to arrange for the deposit of $500,000,0000.00 USD (the "Instrument Services" with a bank (the "Issuing Bank", which is to be Northern Trust Bank, HSBC, or similar quality bank agreed to by the Company. The Instrument Services are to be held in a blocked account at the Issuing Bank for one year and a day. The full Agreement is attached hereto as Exhibit 10.61 and incorporated herein by reference. Although the Agreement has been fully executed, the $1,500,000 provider fee has not yet been made and there can be no assurance that it will be made. The Company will keep investors informed of the status of the payment of the provider fee by a further filing on Form 8-K.

Exhibit Description

10.61 Financial instrument service agreement between Q Lotus, Inc./Harvesttime
Worldwide Oil Trust London, LLC and Wild Stallions LLC.