8-K 1 blsp-8k_022318.htm CURRENT REPORT






Washington, D.C. 20549




Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 23, 2018 (February 20, 2018)

Blue Sphere Corporation

(Exact name of registrant as specified in its charter)

Nevada   000-55127   98-0550257
(State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)

301 McCullough Drive, 4th Floor, Charlotte, North Carolina 28262

(Address of principal executive offices) (Zip Code)


(Registrant’s telephone number, including area code)

(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))

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. ☐



As used in this Current Report, all references to the terms “we”, “us”, “our”, “Blue Sphere” or the “Company” refer to Blue Sphere Corporation and its direct and indirect wholly-owned subsidiaries, unless the context clearly requires otherwise.


Cautionary Note Regarding Forward-Looking Statements


This Current Report on Form 8-K includes information that may constitute forward-looking statements. These forward-looking statements are based on the Company’s current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include, but are not limited to, statements regarding the achievement of milestones and what impact it could have on the Company’s operations, long-term success and financial condition. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results, as well as the Company’s expectations, to differ materially from those expressed in or contemplated by the forward-looking statements. These factors include, without limitation, the risk that additional information may become known prior to the expected filing of information or financial statements with the Securities and Exchange Commission. Other risk factors affecting the Company are discussed in detail in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable securities laws.


Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On and effective as of February 20, 2018, Lyron Bentovim resigned from the Company’s Board of Directors. Mr. Bentovim was a member of our Audit Committee and Nominations Committee, and was Chairman of the Finance Committee.


Mr. Bentovim served as a member of our Board of Directors since August 2016, during which time we enjoyed the professional capabilities, sincerity and devotion he brought to the Company. As an emerging growth company, we are in a constant state of business and project-level development and frequently, since inception, must raise funds, not just for operations but to support our facility acquisitions and project construction activities. Presently, the Company is striving to achieve project-level milestones that we believe are key to the Company’s long-term success, but the Company requires additional funds to achieve these milestones. Mr. Bentovim resigned because he had a different perspective on the strategic direction of the Company; specifically, he suggested not to pursue fundraising activities that the Company has negotiated, and/or is presently negotiating. Mr. Bentovim believed such differences would prevent him from serving effectively on the Board of Directors. Mr. Bentovim departs a friend of the Company, his resignation is the result of different professional approaches.


Item 9.01

Financial Statements and Exhibits.


The following exhibits are furnished as part of this Current Report on Form 8-K:


(d) Exhibits.


No. Exhibit
17.1 Resignation of Lyron Bentovim, dated February 20, 2018.
17.2 Email Correspondence, dated February 19, 2018









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.


    Blue Sphere Corporation
Dated:  February 23, 2018 By:  /s/ Shlomi Palas
    Shlomi Palas
    President and Chief Executive Officer