Form 8-K
8-K — Helio Corp /FL/
Accession: 0001213900-26-048545
Filed: 2026-04-28
Period: 2026-04-22
CIK: 0001953988
SIC: 3760 (GUIDED MISSILES & SPACE VEHICLES & PARTS)
Item: Entry into a Material Definitive Agreement
Item: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
Item: Unregistered Sales of Equity Securities
Item: Financial Statements and Exhibits
Documents
8-K — ea0288057-8k_helio.htm (Primary)
EX-10.1 — EXCHANGE AGREEMENT, DATED APRIL 22, 2026, BETWEEN HELIO CORPORATION AND GREGORY T. DELORY (ea028805701ex10-1.htm)
EX-10.2 — PROMISSORY NOTE DATED APRIL 22, 2026 ISSUED TO GREGORY T. DELORY (ea028805701ex10-2.htm)
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8-K — CURRENT REPORT
8-K (Primary)
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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):
April 22, 2026
HELIO CORPORATION
(Exact name of registrant as specified in its charter)
Florida
000-56744
92-0586004
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
2448 Sixth Street, Berkeley, California 94710
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including
area code: (510) 545-2666
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: None
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 April 22, 2026, Helio Corporation (the “Company”) entered
into an Exchange Agreement with Gregory T. Delory, the Company’s Chief Technology Officer (the “Delory Exchange Agreement”).
Pursuant to Delory Exchange Agreement, promissory notes held by Delory
in the aggregate outstanding amount of $327,629, consisting of an aggregate principal amount of $327,629 and $0 in accrued and payable
interest were cancelled in exchange for the issuance of an aggregate of 149,979 shares of common stock.
The number of shares to be issued under the Exchange Agreement was
calculated using a conversion price of $2.1845, which represents the volume-weighted average price (VWAP) of the Company’s common
stock for the preceding twenty (20) Trading Days, as reported by OTC Markets Group.
A copy of the Delory Exchange Agreement is filed as Exhibit 10.1 to
this Current Report on Form 8-K and is incorporated by reference herein.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation
Under an Off-Balance Sheet Arrangement.
On April 22, 2026, the Company issued a zero-interest, on-demand promissory
note (the “Note”), in the principal amount of $327,629 to Gregory T. Delory. The Note represents past advances previously
made by the holder and does not represent new borrowings. The Note was immediately included in the Exchange Agreement described in Item
1.01 of this Current Report on Form 8-K and was cancelled concurrently with the issuance thereunder.
A copy of the Note is filed as Exhibit 10.2 to this Current Report
on Form 8-K and is incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Securities.
On April 28, 2026, the Company issued 149,979 shares of Common Stock
to Mr. Delory in reliance on Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”). No commissions
or other remuneration were paid in connection with the exchange. The shares have not been registered under the Securities Act and constitute
“restricted” and “control” securities under Rule 144 promulgated under the Securities Act.
The disclosure included under Item 1.01 of this Current Report on Form
8-K is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Description
10.1
Exchange Agreement, dated April 22, 2026, between Helio Corporation and Gregory T. Delory
10.2
Promissory Note dated April 22, 2026 issued to Gregory T. Delory
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
1
SIGNATURES
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.
HELIO CORPORATION
Date: April 28, 2026
By:
/s/ Edward Cabrera
Name:
Edward Cabrera
Title:
Chief Executive Officer
2
EX-10.1 — EXCHANGE AGREEMENT, DATED APRIL 22, 2026, BETWEEN HELIO CORPORATION AND GREGORY T. DELORY
EX-10.1
Filename: ea028805701ex10-1.htm · Sequence: 2
Exhibit 10.1
EXCHANGE AGREEMENT
This EXCHANGE AGREEMENT (this “Agreement”) is entered
into as of April 22, 2026 (the “Effective Date”), by and between Helio Corporation, a Florida corporation (the “Company”),
and Gregory T. Delory (“Holder”). The Company and Holder may each be referred to as a “Party”
and collectively as the “Parties.”
RECITALS
WHEREAS, Holder is the legal and beneficial
owner of certain promissory notes issued by the Company and held by Holder, together with all accrued but unpaid interest thereon (collectively,
the “Notes”), as more particularly described on Schedule A attached hereto;
WHEREAS, as of the Effective Date, the aggregate
outstanding principal and accrued interest owed under the Notes is set forth on Schedule A (the “Outstanding
Balance”);
WHEREAS, the Company and Holder desire to
exchange the Outstanding Balance for shares of the Company’s common stock, no par value (the “Common Stock”),
pursuant to the terms of this Agreement;
WHEREAS, the number of shares of Common
Stock to be issued to Holder shall be determined using the volume-weighted average price of the Common Stock for the twenty (20) consecutive
Trading Days immediately preceding the Conversion Date (the “20-Day VWAP”), as set forth on Schedule A
once calculated;
NOW, THEREFORE, in consideration of the
mutual covenants contained herein and intending to be legally bound, the Parties hereby agree as follows:
1. EXCHANGE OF NOTES
1.1. Exchange.
Subject to the terms and conditions
of this Agreement, Holder hereby irrevocably agrees to exchange, cancel, and surrender the Notes and the Outstanding Balance in full satisfaction
thereof, and the Company hereby agrees to issue to Holder the number of shares of Common Stock (the “Exchange Shares”)
calculated in accordance with Section 2 below.
1.2. Cancellation.
Upon issuance of the Exchange Shares,
the Notes shall be deemed cancelled, extinguished, forgiven, and of no further force or effect, and the Company shall have no further
obligations under the Notes.
2. CALCULATION OF EXCHANGE SHARES
2.1. Conversion Price.
The “Conversion Price”
shall mean $2.1845, representing the volume-weighted average price of the Common Stock for the twenty (20) consecutive Trading
Days immediately preceding the Conversion Date (the “20-Day VWAP”).
For purposes of this Agreement, “VWAP”
means, for any Trading Day, the volume-weighted average price of the Common Stock on the principal trading market as reported by Bloomberg,
L.P. (or, if Bloomberg is not available, by another reputable reporting service reasonably acceptable to the Company), calculated based
on actual executed trade prices and volumes during regular trading hours.
“Trading Day” means
any day on which the Common Stock is traded on its principal trading market, including any day with an early close or reduced trading
hours.
2.2. Number of Exchange Shares.
The number of shares of Common Stock
to be issued to Holder pursuant to this Agreement (the “Exchange Shares”) shall be equal to the Outstanding Balance
divided by the Conversion Price, as set forth on Schedule A.
2.3. Final Schedule.
Schedule A attached
hereto has been completed as of the Effective Date and sets forth, with respect to each Note being exchanged: (a) the outstanding principal
amount, (b) accrued but unpaid interest, (c) the total Outstanding Balance, (d) the Conversion Price, and (e) the resulting number of
Exchange Shares to be issued to Holder. Schedule A shall be deemed final, complete, and incorporated into this Agreement
as of the Effective Date.
3. ISSUANCE OF SHARES
3.1. Issuance.
On the Conversion Date, the Company
shall issue the Exchange Shares to Holder in book-entry or certificate form.
3.2. Legal Status of Shares.
The Exchange Shares, when issued in
accordance with this Agreement and the Board resolutions approving this Agreement, shall be validly issued, fully paid, and nonassessable
under Section 607.0621 of the Florida Business Corporation Act (“FBCA”).
3.3. No Fractional Shares.
No fractional Exchange Shares shall
be issued. Any fractional share shall be rounded up to the nearest whole share.
4. REPRESENTATIONS AND WARRANTIES OF HOLDER
Holder hereby represents and warrants to the Company
that:
(a) Ownership. Holder is the lawful owner of the Notes, free and clear of all liens and encumbrances.
(b) Authorization. Holder has full power and authority to enter into this Agreement.
2
(c) Investment Intent. Holder is acquiring the Exchange Shares for investment purposes and not with a view to distribution.
(d) Accredited Investor. Holder is an “accredited investor” under Rule 501(a) of Form 506 of the Securities Act of
1933, as amended.
(e) No Reliance. Holder is not relying upon statements other than those expressly contained herein.
5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY
The Company represents and warrants to Holder
that:
(a) Corporate Power. The Company is duly organized under Florida law.
(b) Authorization. Corporate action authorizing this Agreement and the issuance of the Exchange Shares has been taken.
(c) Valid Issuance. When issued pursuant to the terms of this Agreement, the Exchange Shares will be validly issued, fully paid,
and nonassessable.
(d) Non-Contravention. Execution of this Agreement does not violate the Company’s organizational documents.
6. FORM 8-K FILING
The Company shall prepare and file
a Form 8-K describing this Agreement and the Exchange Shares.
7. MISCELLANEOUS
7.1. Governing Law.
This Agreement shall be governed by
Florida law.
7.2. Submission to Jurisdiction.
Each Party irrevocably and unconditionally
submits to the non-exclusive jurisdiction of (a) the state courts of the State of Florida located in Broward County, Florida, and the
federal courts of the United States sitting in the Southern District of Florida, and (b) the state courts of the State of California located
in Alameda County, California, and the federal courts sitting in the Northern District of California, for any action, suit, or proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby. Each Party irrevocably waives any objection to the
laying of venue in such courts, including any claim of inconvenient forum.
3
7.3. Waiver of Jury Trial.
EACH PARTY HEREBY IRREVOCABLY WAIVES
ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.
7.4. Entire Agreement.
This Agreement and Schedule
A constitute the entire agreement.
7.5. Amendments.
Any amendments to this Agreement must
be approved by the independent director of the Board of Directors of the Company and signed by both parties.
7.6. Counterparts.
May be executed electronically and
in one or two counterparts. The Holder may not sign this Agreement or any amendment hereto on behalf of the Company.
[Remainder of page intentionally left blank.]
[Signature page follows.]
4
IN WITNESS WHEREOF, the Parties have executed
this Exchange Agreement as of the Effective Date.
HELIO CORPORATION
By:
/s/ Edward Cabrera
Name:
Edward Cabrera
Title:
Chief Executive Officer
HOLDER:
/s/ Gregory T. Delory
Gregory T. Delory, individually
[SIGNATURE PAGE TO EXCHANGE AGREEMENT]
5
Schedule A
Date of Note
Payee
Principal Amount
Interest Rate
Maturity Date
Accrued
Interest
(as of H2)
Total Outstanding
Conversion Price
Conversion Shares
4/21/2026
Gregory T. Delory
$ 327,629
0 %
-
-
$ 327,629
$ 2.1845
149,979
6
EX-10.2 — PROMISSORY NOTE DATED APRIL 22, 2026 ISSUED TO GREGORY T. DELORY
EX-10.2
Filename: ea028805701ex10-2.htm · Sequence: 3
Exhibit 10.2
THE SECURITIES REPRESENTED HEREBY HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE OFFERED,
SOLD, TRANSFERRED, PLEDGED, OR OTHERWISE DISPOSED OF UNLESS (A) REGISTERED UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS, OR (B)
AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS IS AVAILABLE.
HELIO CORPORATION
PROMISSORY NOTE
$327,629.00
April 22, 2026
FOR VALUE RECEIVED, Helio Corporation, a Florida corporation
(the “Company”), hereby promises to pay to the order of Gregory T. Delory (“Lender”), the Company’s
Chief Technology Officer, the principal sum of $327,629.00, representing funds previously advanced by Lender to the Company and its subsidiary,
Heliospace Corporation, as further described in Section 1 of this Note. This Note is not a retroactive or backdated instrument.
1. PRINCIPAL
The principal amount of this Note is
Three Hundred Twenty-Seven Thousand Six Hundred Twenty-Nine U.S. Dollars and Zero Cents ($327,629.00), consisting of the prior advances
by the Lender throughout the period between September through December 2025.
2. INTEREST
This Note shall bear no interest.
3. MATURITY
All unpaid principal shall be due and
payable ON DEMAND upon written notice from Lender to the Company.
4. PREPAYMENT
The Company may prepay all or any portion
of the outstanding principal of this Note at any time without premium or penalty.
5. EVENTS OF DEFAULT
Each of the following shall constitute
an “Event of Default”:
(a) Failure of the Company to pay any amount due hereunder within fifteen (15) days after written demand; or
(b) The Company becomes subject to bankruptcy or insolvency proceedings.
Upon an Event of Default, the entire
unpaid principal shall become immediately due and payable at the option of Lender.
6. GOVERNING LAW
This Note shall be governed by and construed
in accordance with the laws of the State of Florida.
7. NOTICES
All notices required or permitted hereunder
shall be in writing and delivered personally, by email, or by certified mail to the parties at their respective last known addresses.
8. MISCELLANEOUS
(a) No Waiver. No delay or failure by Lender to exercise any right hereunder shall operate as a waiver.
(b) Amendments. This Note may be amended only by a written instrument executed by both parties.
(c) Transfer; Assignment. The Lender acknowledges that this Note constitutes a “restricted security” under the Securities
Act of 1933, as amended (the “Securities Act”), and has not been registered under the Securities Act or any state securities
laws. This Note may not be offered, sold, assigned, pledged, or otherwise transferred unless (a) pursuant to an effective registration
statement under the Securities Act and applicable state securities laws, or (b) an exemption from such registration requirements is available,
and, in each case, subject to the Company’s prior written consent.
(d) Entire Agreement. This Note constitutes the entire agreement between the parties with respect to the indebtedness evidenced
hereby.
(e) No Backdating. The parties acknowledge that this Note is executed as of the date above and is not a retroactive or backdated
instrument.
[Signature page follows.]
2
IN WITNESS WHEREOF, the Company and Lender
have executed this Promissory Note as of the date first written above.
HELIO CORPORATION
By:
/s/ Edward Cabrera
Name:
Edward Cabrera
Title:
Chief Executive Officer
LENDER:
/s/ Gregory T. Delory
Gregory T. Delory, individually
[SIGNATURE PAGE TO DEMAND NOTE]
3
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