SECTION 1. REGISTRANT’S BUSINESS AND OPERATIONS
ITEM 1.01 ENTRY INTO A MATERIAL DEFINTIIVE AGREEMENT
The Board of Directors of Ballroom Dance Fitness Inc., a Florida corporation (the "Company") authorized the execution of that certain purchase agreement dated March 15, 2016 (the "Purchase Agreement") among the Company and The Plaza Ballroom & Event Centre, LLC (collectively, the “Sellers”) and Marianne de Wall (the “Buyer”). In accordance with the terms and provisions of the Purchase Agreement, the Sellers sold all of their respective right, title and interest in and to that certain license to the Palm Beach Dance Challenge, a sanctioned competition by The National Dance Council of America (the "License"), to the Buyer for consideration of $25,000. The terms and provisions of the Purchase Agreement further provide that the Buyer shall assume rights and control of the current website and domain name.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro forma Financial Information.
Not applicable.
(c) Shell Company Transaction.
Not applicable.
(d) Exhibits.
| | |
| Exhibit No. | Description |
| 10.1 | Purchase Agreement dated March 15, 2016 among Zoom Companies Inc., The Plaza Ballroom & Event Centres LLC and Marianne de Wall. |
| | |
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.
| | |
| | ZOOM COMPANIES INC. |
| DATE: March 17, 2016 |
/s/ William Forhan______________________ Name: William Forhan Title: President |
__________
2
Purchase for the NDCA-Sanctioned Dance Competition, “PALM BEACH DANCE CLASSIC”
111 US HIGHWAY ONE
NORTH PALM BEACH, FLORIDA 33408
Zoom Companies Inc. (Sellers), agree to sell the Palm Beach Dance Classic competition to Marianne de Wall (Buyer), of 201 San Lorenzo Court, Bradenton, Florida 34308, for USD $25,000. (Twenty Five Thousand dollars).
Zoom Companies (Sellers) attest to the following:
1.
There are no pending liens or judgments against The Palm Beach Dance Classic.
2.
The Palm Beach Dance Classic is free of any debt or obligations.
3.
There are no NDCA violations or restrictions relative to this license/competition.
4.
The Buyer understands the NDCA regulations and scheduling for this event that currently require the competition to be held on the third Saturday of every January, and in order to remain sanctioned the Palm Beach Dance Classic must be held in January 2017. The Buyer assumes responsibility for maintaining a sanctioned event and will work with the NDCA Board directly to request any changes or extensions and to secure approval as the Organizer.
5.
The Buyer will assume rights and control of the current website and domain name, at no charge, but will pay any fees associated with the transfer of files and subsequent updates and domain registration.
6.
The Plaza Ballroom & Event Centre offers an annual renewable option to use the venue to hold The Palm Beach Dance Classic competition at 50% room rate discount. This provision is applicable only as long as Ann and Joe Morello are owners.
Margaret Burns and Marianne de Wall (Buyer) attests to the following:
1.
I have read all the aforementioned statements with full understanding of my responsibilities.
2.
I have been instructed that if I am not a member of the NDCA I will join to complete the sanctioning requirements.
3.
On Tuesday, March 15, 2016 I will tender a Cashier’s check in the amount of USD$25,000 to finalize the transaction.
4.
I must communicate with the NDCA about the change and to acquire the updated rules and regulations.
X /s/ Ann Morello
Date: 3-15-16
Ann Morello, CEO, The Plaza Ballroom & Event Centre, LLC
X /s/ Bill Forhan
Date: 3-15-16
Bill Forhan, CEO, Zoom Companies, Inc.
X /s/ Marianne deWall
Date: 3-15-16
Marianne deWall (Buyer)
X /s/ Margaret Burns
Date: 3-15-16
Margaret Burns (Buyer)
/s/ Joseph S. Morello
Joseph S. Morello
Competition PURCHASE AGREEMENT FOR THE PALM BEACH DANCE CLASSIC March 14 2016